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Author Question: Will exchanges a building with a basis of $35,000, and subject to a liability of $30,000, for land ... (Read 65 times)

silviawilliams41

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on: Sep 13, 2020

Question 1

Which one of the following does not affect the adjusted basis of a house held as rental property?
◦ depreciation deduction
◦ adding a new room to the house
◦ painting of more than 50% of the rooms in the home
◦ installation of a completely new heating system

Question 2

Will exchanges a building with a basis of $35,000, and subject to a liability of $30,000, for land with a FMV of $50,000 owned by Jane.  Jane takes the land subject to the liability.  The amount realized by Will is
◦ $30,000.
◦ $35,000.
◦ $50,000.
◦ $80,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by silviawilliams41 on Sep 13, 2020

amynguyen1221

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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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silviawilliams41

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

lindahyatt42

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

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