If there is a like-kind exchange of property between related parties, how long do they have to wait to dispose of the property received in order to avoid having to recognize any gain on the exchange?
A) 6 months
B) 1 year
C) 2 years
D) no waiting period
C) 2 years
Exchanges of property between related parties are not like-kind exchanges under current law if either party disposes of the property within two years of the exchange.
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