If Boot Is Received in a § 1031 Like-Kind Exchange

question 80

True/False

If boot is received in a § 1031 like-kind exchange that results in some of the realized gain being recognized, the holding period for both the like-kind property and the boot received begins on the date of the exchange.

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Definitions:

Compound

A substance made up of two or more elements chemically bonded together in fixed proportions.

Systematic Name

The formal name of a chemical substance, based on a set of standard rules for naming molecules as established by the International Union of Pure and Applied Chemistry (IUPAC).

Compound

A material consisting of two or more elements that are chemically bonded together in set proportions.

Compound

A compound that results from the chemical union of multiple elements in specific proportions.