Does the exchange qualify for like-kind exchange treatment

Reference no: EM13906504

Twinbrook Corporation needed to upgrade to a larger manufacturing facility. Twinbrook first acquired a new manufacturing facility for $2,100,000 cash, and then transferred the facility it was using (building and land) to White Flint Corpo- ration for $2,000,000 three months later. Does the exchange qualify for like-kind exchange treatment?

Reference no: EM13906504

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