Certified Exchange Specialist (CES)

In a 1031 exchange, the term 'boot' refers to:

Additional like-kind real property received beyond the relinquished property Non-like-kind property, cash, or net debt relief received in the exchange The qualified intermediary's fee for facilitating the exchange Excess equity carried forward into the replacement property

Correct Answer:

Non-like-kind property, cash, or net debt relief received in the exchange

Access more questions from this quiz

Continue to Certified Exchange Specialist (CES) for more practice questions and the full quiz experience.

Access More Questions