Which of the following qualify as a like-kind exchange?
-Office copier for an office fax machine.
A)qualifies as a like-kind exchange
B)does not qualify as a like-kind exchange

Question

Quizplus · Accepted Answer

Like-kind exchange is a type of transaction where similar types of property are exchanged for each other. In this scenario, an office copier and an office fax machine are not similar types of property and hence do not qualify as a like-kind exchange.

Which of the Following Qualify as a Like-Kind Exchange