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Author Question: Rosa exchanges business equipment with a $60,000 adjusted basis for a like-kind piece of equipment ... (Read 167 times)

nautica902

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on: Sep 13, 2020

Question 1

Rolf exchanges an office building worth $150,000 for investment land worth $175,000.  He also provided stock worth $25,000.  Rolf's adjusted basis in the building and stock is $130,000 and $11,000, respectively.  How much gain will Rolf recognize on the exchange?
◦ $0
◦ $14,000
◦ $20,000
◦ $34,000

Question 2

Rosa exchanges business equipment with a $60,000 adjusted basis for a like-kind piece of equipment with a $100,000 FMV and $20,000 of marketable securities. What is Rosa's basis for the new equipment?
◦ $60,000
◦ $80,000
◦ $100,000
◦ $120,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by nautica902 on Sep 13, 2020

harveenkau8139

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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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nautica902

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

milbourne11

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

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