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Author Question: Emily owns land for investment purposes that has a FMV of $300,000 (basis of $260,000). She ... (Read 166 times)

sc00by25

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on: Sep 13, 2020
Emily owns land for investment purposes that has a FMV of $300,000 (basis of $260,000).  She exchanges the land, plus $40,000 cash, for a warehouse to be used in her business.  The warehouse is worth $420,000, but is subject to a mortgage of $80,000 which Emily will assume.  The gain realized by Emily on the exchange is
◦ $40,000.
◦ $80,000.
◦ $120,000.
◦ $160,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by sc00by25 on Sep 13, 2020

vkodali

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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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sc00by25

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

abro1885

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

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