Which of the following statements about the transfer of debt in a like-kind exchange is false?
A) The party relieved of debt treats the relief as boot received.
B) The party assuming debt treats the assumption as boot paid.
C) If both properties in the exchange are subject to debt, both parties will be treated as receiving boot.
D) None of these choices are false.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements about the transfer of debt in a like-kind exchange is false?
A) The party relieved of debt treats the relief as boot received.
B) The party assuming debt treats the assumption as boot paid.
C) If both properties in the exchange are subject to debt, both parties will be treated as receiving boot.
D) None of these choices are false.

Which of the Following Statements About the Transfer of Debt