Answered: Under Section 1031 a personal residence…

Under Section 1031 a personal residence or an automobile used solely for personal purposes will qualify for a tax free exchange. T/F

Administration Of Wills/Trusts/ And Estates

5th Edition

ISBN:9781285281308

Author:Brown

Publisher:Brown

Chapter4: Intestate Succession

Section: Chapter Questions

Problem 1RQ

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Question

Under Section 1031 a personal residence or an automobile used solely for personal purposes will qualify for a tax free exchange.

T/F

perty cannot be used by dealers in real property.

T/F

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