Question
1031 Like-kind exchange Self created example, need explaination Help Case 1. If I have a property of FMV $500, Basis $100, Loan $150. I would
1031 Like-kind exchange
Self created example, need explaination Help
Case 1. If I have a property of FMV $500, Basis $100, Loan $150. I would like to do exchange of B's property FMV $500, Basis $200. What is gain/loss recognize of each and new basis of each property?
Case 2. If I have a property of FMV $600m, Basis $100. I would like to do exchange of B's property FMV $300, Basis $200, equipement FMV $250, basis $50. What is gain/loss recognize of each party and new basis of each property?
Case 2. If I have a property of FMV $300m, Basis $100, Loan $50. I would like to do exchange of B's property FMV $300, Basis $110, Loan $70. What is gain/loss recognize of each party and new basis of each property?
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
