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A like kind exchange takes place on October 27, 2016. C gives D property which is a capital asset purchases on April 9, 2009. D
A like kind exchange takes place on October 27, 2016. C gives D property which is a capital asset purchases on April 9, 2009. D gives C property which is a capital property purchased on March 21, 2010.
C gives D property with
FMV: 200
Basis: 100
D gives C property with
FMV: 170
Basis: 70
Cash: 30
Whatt is C and D's realized gain?
What is C and D's recognized gain?
What is C and D's basis in the property received?
When does C and D's holding period begin?
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