24 which of the following doesnt qualify as like kind property for 1031 exchange a office...
24 which of the following doesnt qualify as like kind property for 1031 exchange
a office building for raw land'
b IBM stock for google stock
c rental apartment building for commercial farm land
d single family rental real estate for the trump tower building
e all above qualify
Homework Answers
e. All above qualify
As per IRC section 1031 exchange , two assets are considered to be same type making their exchange tax deferrable.
Quality of assets does not matter in this type of property. Hence all the assets listed above qualify for as like kind property as per section 1031.
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