Boot received in a like-kind exchange never causes loss to be recognized.

Name: Boot received in a like-kind exchange never causes loss to be recognized.
Brand: Quizplus
Rating: 4.8 (35 reviews)

Question

Quizplus · Accepted Answer

In a like-kind exchange, boot received (additional value in the form of cash, liabilities assumed, or other property received that is not like-kind) does not trigger the recognition of a loss; it can only trigger the recognition of gain if there is a gain realized in the transaction. Losses are not recognized due to receiving boot.

Boot Received in a Like-Kind Exchange Never Causes Loss to Be