Business, 22.11.2019 02:31 braphi5609
Pam exchanges a rental building, which has an adjusted basis of $520,000, for investment land which has a fair market value of $700,000. in addition, pam receives $100,000 in cash. what is the recognized gain or loss and the basis of the investment land? a. $0 and $420,000. b. $100,000 and $420,000.
c. $100,000 and $520,000.
d. $280,000 and $700,000.
e. none of the above.
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Pam exchanges a rental building, which has an adjusted basis of $520,000, for investment land which...
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