Kuda owns a parcel of land she acquired on June 1,2012,as an investment.She exchanges the land on July 5,2019,for a storage building to be used in her business and marketable securities to be held as an investment.The marketable securities' holding period begins on

Question

Quizplus · Accepted Answer

The holding period for the marketable securities begins on July 6, 2019, which is the day after the exchange took place. The original acquisition of the land on June 1, 2012, is not relevant in determining the holding period for the marketable securities.

Kuda Owns a Parcel of Land She Acquired on June