Business, 31.10.2019 01:31, alinegonzalez0027

Shontelle owns an apartment house that has an adjusted basis of $760,000 but is subject to a mortgage of $192,000. she transfers the apartment house to dave and receives from him $120,000 in cash and an office building with a fair market value of $780,000 at the time of the exchange. dave assumes the $192,000 mortgage on the apartment house. what is shontelle’s realized gain or loss?

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Shontelle owns an apartment house that has an adjusted basis of $760,000 but is subject to a mortgag...