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the property to petitioner husband, who in turn transferred the
same to petitioners as trustees for the Christensen trust.
5. On June 16, 1989, the facilitators transferred the
property known as Haystack Landing to petitioner husband, who in
turn transferred the property to petitioners as trustees for the
Christensen trust.
6. On April 26, 1989, Jeffrey and Sandra Bohn transferred
the property known as the Greenville property to petitioners as
trustees for the Christensen trust.
With respect to all these transfers of property, except as
section 1031(a)(3) may apply, petitioners received no money or
other nonqualifying property from the facilitators or otherwise
as the result of transferring the Tesconi property.
As part of their 1988 joint income tax return, petitioners
included the statement "the property known as 360 Tesconi Circle
is being exchanged in a deferred 'starker' exchange. The
transaction will be completed and reported in 1979". The use of
"1979" in this statement is a typographical error that should
read "1989".
No issue is raised by the parties, and they apparently agree
that the Tesconi property relinquished by petitioner husband and
the properties received by him were like-kind properties which
would qualify for exchange under section 1031(a)(1). Likewise,
the parties apparently agree that there was no cash boot or other
nonqualifying property received in this set of transactions under
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