Matthew exchanges an investment apartment building for a parcel of land. the apartment building has a fair market value of $80,000 and an adjusted basis of $95,000. the land's value is $60,000. matthew receives $20,000 cash in the exchange. what is matthew's recognized gain (loss) on the exchange and his basis in the land?
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Ответ:
Recognized gain (loss) on the exchange = $0
Basis in the land = $75,000
Explanation:
Apartment Fair market value = $80,000
Land's value = $60,000
Cash received = $20,000
So Gain/(Loss) = $80,000 - ($60,000+$20,000) = $0
Basis in Land = $95,000-$20,000 = $75,000
Ответ: