A deferred like-kind exchange does not help accomplish which of the following objectives?
A)To facilitate finding replacement property.
B)To help acquire the replacement property.
C)To reduce the possibility that the seller must receive cash (boot)that will taint the transaction.
D)To certify the taxpayer's Form 8824-Like-kind exchanges.
E)All of the choices are correct.

Question

Quizplus · Accepted Answer

A deferred like-kind exchange helps facilitate finding replacement property, help acquire the replacement property, and reduce the possibility that the seller must receive cash (boot) that will taint the transaction. However, it does not certify the taxpayer's Form 8824 - this is the taxpayer's responsibility to complete and file.

A Deferred Like-Kind Exchange Does Not Help Accomplish Which of the Following