Section 1031 of the Internal Revenue Code Permits Investors to Defer

question 10

Multiple Choice

Section 1031 of the Internal Revenue Code permits investors to defer some or all of the taxable gain that would ordinarily be due on the sale of a property if they exchange for "like-kind" property. In order to avoid income taxes, many investors attempted to make use of this tax code when disposing of commercial real estate assets. This led to the reemergence of which of the following forms of ownership in commercial real estate?

• A) General Partnership
• B) Limited Liability Company
• C) Tenancy-in-common
• D) Limited Partnership

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Definitions:

Allopathic Medicine

A term used to describe mainstream medical practices and interventions that are based on empirical evidence.

Chronic Illness

A long-term health condition that may not have a cure and requires ongoing management of symptoms.

Physical Ailments

Conditions or diseases affecting the body, often characterized by pain, discomfort, or dysfunction.

Phytochemicals

Naturally occurring chemical compounds in plants that are believed to contribute to their color, taste, and disease resistance, some of which are beneficial to human health.