Twining Corporation has some land it wants to trade for a building owned by Clopp Corporation.Clopp does not want to exchange the building because it wants to recognize its loss on the building.Twining, however, does not want to recognize its gain.What alternative(s) does Twining have that will allow it to avoid recognizing gain?
A)Twining can sell its land to a third party and take the money and purchase the building.
B)Twining can have a third party purchase the building and have the third party trade for the land.
C)Twining can complete a nonsimulataneous exchange within one year of identifying the desired property.
D)All of the above are acceptable alternatives.

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The Answer of Twining Corporation has some land it wants to trade for a building owned by Clopp Corporation.Clopp does not want to exchange the building because it wants to recognize its loss on the building.Twining, however, does not want to recognize its gain.What alternative(s) does Twining have that will allow it to avoid recognizing gain?
A)Twining can sell its land to a third party and take the money and purchase the building.
B)Twining can have a third party purchase the building and have the third party trade for the land.
C)Twining can complete a nonsimulataneous exchange within one year of identifying the desired property.
D)All of the above are acceptable alternatives.

Twining Corporation Has Some Land It Wants to Trade for a Building