Which of the following statements with respect to a like- kind exchange is false?
A) An exchange of a hotel in the United States for a hotel in Canada will not qualify.
B) A sale of property and subsequent purchase of like- kind property will always qualify as a like- kind exchange.
C) Real property used in a trade or business can be exchanged for real property to be held for investment.
D) An exchange of inventory does not qualify as a like- kind exchange.
Correct Answer:
Verified
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