Business
Business, 31.12.2019 00:31, mrashrafkotkaat

Nand a exchange lots of land in a like-kind exchange. n’s lot is worth $21,000 and a’s lot is worth $24,000 so n transfers $3,000 to make up the difference. a ‘s basis in her lot is $30,000.
what is a’s realized loss?
recognized loss?
basis in the new property?

answer
Answers: 3

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Nand a exchange lots of land in a like-kind exchange. n’s lot is worth $21,000 and a’s lot is worth...

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