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NACVA Exam CVA Topic 4 Question 101 Discussion

Actual exam question for NACVA's CVA exam
Question #: 101
Topic #: 4
[All CVA Questions]

There are some allowable methods for determining the basis of property received in exchange for other property. Which of the following is/are out those methods?

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Suggested Answer: D

by Izetta at Oct 22, 2024, 09:37 AM

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Timothy
2 days ago
B is just weird. Why would the original price matter if you're receiving the property for services? That doesn't seem right at all.
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Marvel
3 days ago
I'm not sure, but I think the answer might be B.
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Kimbery
3 days ago
Income basis? What is this, a trick question? I'm pretty sure that's not a real thing. A is definitely out.
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Magnolia
4 days ago
D seems to make the most sense to me. The basis should be the fair market value of the property when it's received. Why overcomplicate things?
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Omega
5 days ago
I disagree, I believe the answer is D.
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Makeda
7 days ago
I'm pretty sure the correct answer is C. The basis is the fair market value of the property exchanged for it, increased by any payments made or decreased by any payments received, when the two properties are of unequal value. That's the standard rule for like-kind exchanges, right?
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Olga
16 days ago
I think the answer is C.
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