If No Gain Is Recognized in a Nontaxable Like-Kind Exchange

question 25

True/False

If no gain is recognized in a nontaxable like-kind exchange involving Sec.1245 or Sec.1250 property,the recapture potential carries over to the replacement property.

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Definitions:

Empowerment

The process of increasing the capacity of individuals or groups to make choices and to transform those choices into desired actions and outcomes.

Parents

Adults who have a child or children, either biologically, through adoption or foster care, or by being a figure of parental guidance.

Communication

The exchange of information, ideas, feelings, or messages between individuals through various means, including verbal, non-verbal, written, and digital channels.

Prioritize Problems

The process of arranging or dealing with problems or tasks in order of importance, to address the most critical or urgent issues first.