Like-kind exchange treatment only applies if no property other than "like-kind property" is received.

Name: Like-kind exchange treatment only applies if no property other than "like-kind property" is received.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

Like-kind exchange treatment can still apply even if some property received in the exchange is not like-kind, but this may result in the recognition of some taxable gain if "boot" (non-like-kind property or cash) is received in addition to the like-kind property.

Like-Kind Exchange Treatment Only Applies If No Property Other Than