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ReportIs this process available or not? I can see this available for NAV.....
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Is this process available or not? I can see this available for NAV.....
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When you trade in an asset for a similar asset, the exchange is referred to as a like-kind exchange. Typically, when a like-kind exchange is completed, no gain or loss is recognized on the asset that you traded in. Any remaining book value is added to the other asset purchase cost to arrive at the adjusted cost basis of the fixed asset that is added.
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