Question: Determine the realized, recognized, and postponed gain or loss and the new basis for each of the following like-kind exchanges: Adjusted Basis of Old Asset

Determine the realized, recognized, and postponed gain or loss and the new basis for each of the following like-kind exchanges:

Adjusted Basis of Old Asset Boot Given Fair Market Value of New Asset Boot Received a. b. 7,000 14,000 3,000 15,000 10,000 17,000 $12,000 15,000 8,000 29,000 11,000 14,000 $4,000 2,000 7,000 500 1,000 C.

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