What requirements must be satisfied to receive nontaxable exchange treatment under § 1031?
What will be an ideal response?
The following requirements must be satisfied to receive nontaxable exchange treatment under § 1031.?
| ? | The form of the transaction is an exchange. |
| ? | Both the property transferred and the property received are held either for productive use in a trade or business or for investment. |
| ? | The property is like-kind property (i.e., real property). |
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