In October 2019, Ben and Jerry exchange investment realty in a § 1031 like-kind exchange.Ben bought his real estate in 2008 while Jerry purchased his in 2011.In addition to the realty, Ben receives Pearl, Inc.stock worth $10,000 from Jerry.Ben's realized gain is $30,000.On what date does the holding period for Ben's realty received from Jerry begin? When does the holding period for the stock he receives begin?

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In a like-kind exchange, the holding period for the property received includes the period the taxpayer held the property exchanged. Therefore, Ben's holding period for the realty begins in 2008. However, the holding period for the stock received begins on the date of the exchange, which is 2019.

In October 2019, Ben and Jerry Exchange Investment Realty in a §