Kareem owns a pickup truck that he uses exclusively in his business. the adjusted basis is $22,000, and the fair market value is $14,000. in march 2019, kareem exchanges the truck for another truck (worth $14,000) that he will use exclusively in his business.
1. what are kareem’s realized and recognized gain or loss?

The "Kareem" realized loss on the exchange is $8000.

Explanation:

The adjusted basis is = $22000

"Fair market value" is = $14000

"Kareem" exchanges the truck for another truck = worth $14000

"Realized gain" or "Realized loss = basis in the truck - exchange value

Realized gain or loss = $22000 - $14000

Realized gain or loss = $8000

Kareem's loss on the exchange is $8000.

There is no "recognized gain" or "recognized loss"  because the exchange is like a kind exchange which is not documented.

a

b

b

a

c

b

d

d

none of these are correct, as they are all sources of american law

a

answer; /// multipotentialite means a person who have many different interests and creative pursuits in life; (one true calling);

polymath; means a person   of wide-ranging knowledge or learning;

scanner; means; a device that captures images from photographic prints,posters,magazine pages.ect;