Which of the following is not true of like-kind exchanges of real property?
A) Improved real estate is not considered a like-kind exchange for unimproved real estate.
B) A lease on real property with a remaining term of at least 30 years is treated as real property in a like-kind exchange.
C) Condemned real estate in an involuntary conversion is treated under the like-kind rules.
D) Real property in a like-kind exchange need not be of the same class.
Correct Answer:
Verified
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