9.Chad Young's investment property was condemned. He purchased the property for $125,000.He received a net condemnation award of $155,000 and purchased replacement property for $205,000. What is the amount of gain realized on the condemnation?

A.$0

B.$30,000

C.$50,000

D.$80,000

10.If a taxpayer has recognized gain on an exchange of like-kind property held for investment use, where is the gain reported?

A.First on Schedule D, then carried to Form 8824.

B.First on Form 8824, then carried to Schedule D.

C.First on Form 4797, then carried to Form 8824.

D.First on Form 8824, then carried to Form 4797.

11.To postpone casualty gain, the end of the replacement period is the last day of the tax year that is:

A.Three years after the date of the disaster.

B.Three years after any gain is realized.

C.Four years after the date of the disaster.

D.Four years after any gain is realized.

12.Shirley Lees exchanged her investment-use real property (FMV $30,000, basis $17,000) and $5,000 for a larger piece of investment-use real property (FMV $35,000). What is the gain realized and the gain recognized on the exchange?

A.$0 and $13,000

B. $5,000 and $22,000

C.$13,000 and $0

D.$22,000 and $5,000