成功离不开一点一滴的积累，对于USCPA考试，要想基础打得好，就要做大量的习题。想要在uscpa考试中取得好成绩，必然少不了每天的坚持。正保会计网校为大家整理了USCPA精选习题58：Regulation，希望大家利用好这些内容。
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.
【正确答案】C
【答案解析】
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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