All of the Following Are True Except

All of the following are true except

A) a loss may be recognized on non- like- kind property (boot) if the taxpayer transfers the boot in an otherwise like- kind exchange.
B) a nonsimultaneous exchange may never qualify as a like- kind exchange.
C) nonrecognition of gains and losses is mandatory if the exchange is a like- kind exchange.
D) the holding period of like- kind property received includes the holding period of the property exchanged.