Which one of the following is not considered boot in a like-kind exchange?
A) Cash.
B) Other property.
C) Mortgage given.
D) Mortgage received.
E) All of the choices can be considered as boot.

Name: Which one of the following is not considered boot in a like-kind exchange? A) Cash. B) Other property. C) Mortgage given. D) Mortgage received. E) All of the choices can be considered as boot.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Mortgage received is treated as transferring cash to the other party, and thus it is not boot to the recipient.

Which One of the Following Is Not Considered Boot in a Like-Kind