Practice Quiz

CompTIA PDI+ Exam Prep

Category - Enrolled Agent

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Which of the following transactions qualifies as a likekind exchange?
  1. The exchange of a copyright on a novel for a copyright on a song
  2. An exchange of the “goodwill or going concern value” of a business for the “goodwill or going concern value” of another business
  3. An exchange of land improved with an apartment house for land improved with a store building
  4. An exchange of personal property used predominantly in the United States for personal property used predominantly outside the United States
Explanation
Answer: C - An exchange of land improved with an apartment house for land improved with a store building.
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