How long after the initial exchange does a taxpayer have to identify replacement property in a...
How long after the initial exchange does a taxpayer have to identify replacement property in a like-kind exchange?
Multiple Choice
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The like-kind property to be received must be identified within 45 days.
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The like-kind property to be received must be identified by the earlier of 45 days or the last day of the taxpayer's taxable year.
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The like-kind property to be received must be identified within 180 days.
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There is no deadline for the identification of replacement property.
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All of the choices are correct.
.
Homework Answers
Correct option is: The like - kind property to be received must be identified within 45 days
After the initial exchange the taxpayer have to identify the like - kind property to be received within 45 days
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