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Business, 21.12.2020 19:00 ionmjnm3041
Bud exchanges land with an adjusted basis of $ 22,000 and a fair market value of $ 30,000 for another parcel of land with a fair market value of $ 28,000 and $2,000 cash. What is Bud's recognized gain or loss?
a. $0
b. $2,000
c. $6,000
d. $8,000
e. None of the above
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Bud exchanges land with an adjusted basis of $ 22,000 and a fair market value of $ 30,000 for anothe...
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