Bourse: ACC 241 Tax Accounting - Spring 20 the aparment complex is $610,000 and the complex is subject to a $200,000 qualifies as a like-kind exchange. Herbe Time: 10:29 Anderson: Federal Taxation 20 subject to a $150,000 liability. Each asset is transferred subject to the liability. $200,000 liability. The FMV of Heidi's farm is $830 Requirement Vhat is Herbert's recognized gain and the basis of the new farm