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22 0.25 points Metro Corporation traded Building A for Building B. Metro originally purchased Building A for $50,000, and Building A's adjusted basis was
22 0.25 points Metro Corporation traded Building A for Building B. Metro originally purchased Building A for $50,000, and Building A's adjusted basis was $25,000 at the time of the exchange. What is Metro's realized gain or loss, recognized gain or loss, and adjusted basis in Building B in each of the following alternative scenarios? (Loss amounts should be indicated by a minus sign. Input all other amounts as positive values. Leave no answer blank. Enter zero is applicable.) Problem 11-60 Part-d (Static) d. The fair market value of Building A is $45,000, and Metro trades Building A for Building B valued at $40,000 and $5,000 cash. Building A and Building B are like-kind property. Answer is not complete. Description (1) Amount realized from Building B (2) Amount realized from boot (cash) (3) Total amount realized (4) Adjusted basis (5) Gain realized (6) Gain recognized (7) Deferred gain Adjusted basis in Building B Amount $ 0
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