Which One of the Following Is Not a Requirement of a Deferred

question 93

Multiple Choice

Which one of the following is not a requirement of a deferred like-kind exchange?

• A) The like-kind property to be received must be identified within 45 days.
• B) The exchange must be completed within the taxable year.
• C) The like-kind property must be received within 180 days.
• D) A third party intermediary is often used to facilitate the exchange.
• E) All of these.

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Definitions:

Stamp Act

A 1765 law passed by the British Parliament requiring all legal documents, newspapers, and other papers in the American colonies to bear a tax stamp, leading to widespread protest.

Colonial Merchants

Traders and business people operating in the colonial period, often involved in the exchange of goods between the colonies and the mother country.

Sons of Liberty

A group of American patriots during the colonial period who used demonstrations and other methods to protest against British taxation.

Intercolonial Association

An organization or alliance formed between different colonial territories, often for mutual support in matters of trade, defense, or governance.