Question: When one trades equity in one property for equity in a similar property without receiving cash, he or she pays a. No income taxes in

When one trades equity in one property for equity in a similar property without receiving cash, he or she pays
a. No income taxes in the year of the exchange.
b. Income taxes at a maximum 27 percent rate.
c. Income taxes at the normal marginal tax rate.
d. Income taxes the year following the exchange

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