When a gain on a depreciable property is deferred through a nonrecognition transaction, the tax attributes of

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When a gain on a depreciable property is deferred through a nonrecognition transaction, the tax attributes of the first property carry over to the second property.
Why is this important, particularly with respect to likekind exchanges of property?

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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Question Posted: Mar 29, 2013 02:45 AM

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When a gain on a depreciable property is deferred through a nonrecognition transaction, the tax attributes of

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The carryover of tax attributes eliminates the use of likekind exchanges to avoid d...View the full answer

Concepts In Federal Taxation

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