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Author Question: Kai owns an apartment building held for investment purposes. The apartment building is worth ... (Read 153 times)

fagboi

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on: Sep 13, 2020
Kai owns an apartment building held for investment purposes.  The apartment building is worth $500,000, although it is subject to a mortgage of $100,000.  Kai's basis in the apartment building is $380,000.  Kai exchanges the apartment building for an office building.  The office building has an FMV of $350,000. Kai receives $50,000 cash in addition to receiving the office building, and the other party assumes the apartment building mortgage. What is Kai's recognized gain on this exchange?
◦ $0
◦ $50,000
◦ $120,000
◦ $150,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by fagboi on Sep 13, 2020

ndhahbi

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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fagboi

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

matt95

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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