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

question 61

True/False

If boot is received in a § 1031 like-kind exchange, the recognized gain cannot exceed the realized gain.

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Definitions:

Epithelial

Pertaining to the epithelium, a layer of cells covering the body surfaces, lining cavities and organs, and forming glands.

Connective

Tissue in the body that supports, binds together, or separates other tissues or organs.

Nerve

A bundle of fibers composed of neurons through which electrical impulses are transmitted across the body.

Muscle

tissues in the body that have the ability to contract, causing movement of body parts and organs.