A sole proprietor exchanges an office building used in her business for undeveloped land she plans to hold for investment purposes.The exchange will qualify as like-kind.

Name: A sole proprietor exchanges an office building used in her business for undeveloped land she plans to hold for investment purposes.The exchange will qualify as like-kind.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both the office building and the undeveloped land are considered real property and are like-kind, so the exchange qualifies for like-kind treatment.

A Sole Proprietor Exchanges an Office Building Used in Her