_____ 2.Boot received in a like-kind exchange never causes loss to be recognized.

Name: _____ 2.Boot received in a like-kind exchange never causes loss to be recognized.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

According to the like-kind exchange rules under Section 1031 of the Internal Revenue Code, boot received (cash or property that is not of like-kind to the property being exchanged) may cause gain to be recognized, but never causes loss to be recognized.

_____ 2Boot Received in a Like-Kind Exchange Never Causes Loss to to Be