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.

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Definitions:

Circannual Rhythm

Biological processes that occur on an annual or yearly cycle.

Rhythmical Movement

Repetitive, patterned physical motion, which can be involuntary, such as breathing, or intentional, such as dancing.

Plant Leaves

The photosynthetic organs of plants, usually green, where sunlight is absorbed and converted into energy for growth and metabolism.

Temperature Changes

Variations in the degree of heat present in an environment, which can affect the state or behavior of organisms and matter.