I've been thinking a lot about livestock transactions lately. For instance, were you aware that exchanging one livestock unit (a horse, for example) for another livestock unit of similar species but differing gender does not qualify as a like-kind exchange? Additionally, don't ever believe someone who tries to convince you that poultry qualify as livestock, because they don't.
1 comment:
Jae, I'm impressed you've been doing so much research on our taxes. Who knew that when we exchanged livestock units in 2008 that we were making an illegal transaction?
:)
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