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Answer :
The statement "Sarah entered into an exchange with Ted. She gave Ted machinery from her business that produces parts for engines. In exchange, Ted gave this transation as a like-kind exchange." is False.
A like-kind exchange refers to a tax-deferred exchange of similar types of assets, typically used in real estate and business contexts.
However, in the given scenario, machinery for producing parts for engines is not considered like-kind property with the asset received from Ted in exchange. To qualify as a like-kind exchange for tax purposes, the exchanged assets must be of the same nature or character, such as real estate for real estate or machinery for machinery.
Since the assets in the exchange are not like-kind, it would not be treated as a tax-deferred like-kind exchange.
To know more about like-kind exchange:
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