A taxpayer who realizes a loss on the exchange of like-kind property can elect to recognize the loss.
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"Generally, if you exchange business or investment property solely for business or investment property of a like kind, Section 1031 provides that no gain or loss is recognized. If, as part of the exchange, you ...
Solution Summary
The 148 word cited solution explains the rules about recognizing a loss on a like-kind exchange.
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... For Joe and Sara, like-kind exchange of the lands defers the payment of federal ... A recognized gain or loss is a gain or loss that you can apply against ...
... sole proprietorship, including litigation expenses, can be deducted ... must recognize a gain (or loss) of c ... statements with respect to a like-kind exchange is false ...
