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Brett owns investment land located in Tucson, AZ. He exchanges it for other investment land. In which of the following locations may the other investment land be located and enable Brett to qualify for
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Brett owns investment land located in Tucson, AZ. He exchanges it for other investment land. In which of the following locations may the other investment land be located and enable Brett to qualify for like-kind exchange treatment?

a. Mexico City
b. Mexico Toronto
c. Canada Paris
d. France
e. Only A and B
f. None of the above

User Jeffre
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1 Answer

6 votes

Answer:

F. None of The Above

Step-by-step explanation:

Real property located in the United States exchanged for foreign real property (and vice versa) does not qualify as like-kind property.

User Dscape
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