D. G. Smalley and Nell R. Smalley - Page 26





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               In light of this holding, it is unnecessary to decide the              
          issue of whether the subject transaction qualifies as a like-kind           
          exchange within the meaning of section 1031.                                
               To reflect the foregoing and the parties’ concessions,                 

                                                  Decision will be entered            
                                             under Rule 155.                          




































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Last modified: May 25, 2011