### Question
Can you define what exchanged basis property means?


### Answer
**Exchanged basis property** is defined as the following in *26 U.S.C. § 7701*:

> property having a basis determined under any provision of subtitle A (or under any corresponding provision of prior income tax law) providing that the basis shall be determined in whole or in part by reference to other property held at any time by the person for whom the basis is to be determined

#### Citation:
  - *26 U.S.C. § 7701*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 79-DEFINITIONS**

