If Related Taxpayers Exchange Property Qualifying for a Like-Kind Exchange,the

question 31

True/False

If related taxpayers exchange property qualifying for a like-kind exchange,the properties must be retained for three years after the exchange to prevent recognition of gain resulting from the original exchange on a subsequent disposition of the property.

---

Definitions:

Fill Series

A feature in spreadsheet software that automatically populates a range of cells with a sequence of numbers, dates, or other predefined patterns.

Fill Handle

A feature in spreadsheet software allowing users to automatically extend a series of values or formulas into adjacent cells by dragging a small square handle.

Mouse Pointer

A graphical indicator on the screen used to show the position where mouse actions will take effect.

Column Heading

The label or title at the top of a column that indicates the type of data contained in the column.