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为了使广大美国注册会计师考生能够顺利通过考试,如下是网校为美国注册会计师考生整理的习题,希望对大家有所帮互助!
In a "like-kind" exchange of an investment asset for a similar asset that will also be held as an investment, no taxable gain or loss will be recognized on the transaction if both assets consist of:
a. Convertible debentures.
b. Convertible preferred stock.
c. Rental real estate located in different states.
d. Partnership interests.
答案:C
Explanation
Choice "c" is correct. No taxable gain or loss will be recognized on a like-kind exchange if both assets are tangible property. Rental real estate located in different states qualifies for a like-kind exchange.
Choices "a", "b", and "d" are incorrect. In order to meet the "like-kind exchange" requirements for nonrecognition of gain or loss, the property exchanged must be tangible property. Convertible debentures, convertible preferred stock, and partnership interests are not considered tangible property.
Exception: If the same class of stock of the same corporation is exchanged, it will qualify for "substituted basis."
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