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Answer the following by True/False: --- The deferral of realized gain on a section 1031...

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Accounting

Answer the following by True/False:

--- The deferral of realized gain on a section 1031 like-kind exchange is mandatory

--- The deferral of realized gain on a direct (into qualified property) section 1033 involuntary conversion is mandatory

--- The taxpayer can elect to forgo the exclusion of realized gain on a section 121 sale of residence

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