The Holding Period of Property Given Up in a Like-Kind

question 14

True/False

The holding period of property given up in a like-kind exchange includes the holding period of the asset received if the property that has been exchanged is a capital asset.

---

Definitions:

Members Requirement

Regulations or conditions that must be met for an individual to become or remain a member of a group or organization.

Non-Member Manager

A manager in a limited liability company (LLC) who is not an owner or member of the LLC.

Personal Liability

the legal responsibility of an individual to settle debts or fulfill obligations from their own assets.

Fraud

An intentional deception made for personal gain or to damage another individual.