Question:
Which of the following would not qualify as a like-kind 1031 tax-deferred exchange?
a. an apartment building for an industrial building b. a waterfront rental home for a mobile home park
c. a two-family home for a small apartment building
d. an office building for a 20-year lease on a retail pad site
Investment Tax Incentives:
Federal and state government tax codes will often provide incentives or tax breaks on activities that benefit the economy and increase the exchange of goods. Businesses and investment firms often provide critical services to citizens that are more difficult for governments to provide. Incentivizing these activities is critical for the benefit of the population.
Answer and Explanation:
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The answer is d. an office building for a 20-year lease on a retail pad site. This does not qualify for the 1031 tax-deferred exchange since the new...
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