According to Mr. Jones on July 01, 2018, he and his wife exchanged their two-family house in Westchester County (400 Pinebrook Blvd, New Rochelle, NY), which they rented entirely from January 01, 2010 to July 01, 2018, for a four family rental property located at 685 Atlantic Avenue, Brooklyn, NY. At the time of the exchange, the FMV of the two-family house was $1,200,000, and the adjusted basis was $??????? (Calculate based on information provided below). The six-family house had an adjusted basis of $780,000 and a FMV of $1050,000. The two-family home was subject to a $150,000 mortgage, which the buyer assumed.

Other Rental Income and Expenses for 2018 included:

Pinebrook Property

Place in Service 01/01/2010

Purchase Price $675,000.00

I'd like to know the Amount Realized, Adjusted Basis, Realized Gain and Recognized gain on this exchange of property?