Which One of the Following Is Not a Requirement of a Deferred

question 52

Multiple Choice

Which one of the following is not a requirement of a deferred like-kind exchange?

• A)The like-kind property to be received must be identified within 45 days.
• B)The exchange must be completed within the taxable year.
• C)The like-kind property must be received within 180 days.
• D)A third party intermediary is often used to facilitate the exchange.
• E)All of thesE.The exchange must be completed by the due date of the taxpayer's return including extensions.

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Definitions:

Polygraph Tests

Lie detector tests used in some hiring processes to verify the truthfulness of potential or current employees' statements.

Fair Credit Reporting Act

US federal law designed to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.

Organizational Access

The provision by institutions to give employees the capability to utilize resources, information, or locations necessary for their work.

Personal Financial Data

Information related to an individual's financial status, including income, debts, investments, and spending habits.