In order to qualify for like-kind exchange treatment under § 1031, which of the following requirements must be satisfied?
A)The form of the transaction is an exchange.
B)Both the property transferred and the property received are held either for productive use in a trade or business or for investment.
C)The exchange must be completed by the end of the second tax year following the tax year in which the taxpayer relinquishes his or her like-kind property.
D)Only a.and b.
E)a., b., and c.

Question

Quizplus · Accepted Answer

To qualify for like-kind exchange treatment under § 1031, the transaction must be an exchange, and both properties involved must be held for productive use in a trade or business or for investment. The exchange must be completed within 180 days, not by the end of the second tax year.

In Order to Qualify for Like-Kind Exchange Treatment Under §