Which of the Following Statements About Boot Included in a Nontaxable

question 11

Multiple Choice

Which of the following statements about boot included in a nontaxable exchange is false?

• A) The purpose of boot is to equalize the values of the exchanged properties.
• B) The payment of boot triggers recognition of realized gain to the payer.
• C) The receipt of boot triggers recognition of realized gain to the recipient.
• D) The receipt of boot does not trigger recognition of realized loss to the recipient.

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