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Buck and Vern each owned an apartment building. Buck agreed to trade his apartment building for Vern's building. He also agreed to pay Vern an
Buck and Vern each owned an apartment building. Buck agreed to trade his apartment building for Vern's building. He also agreed to pay Vern an additional $10,000 for his building. Buck's basis in his building is $40,000. Vern has a basis of $50,000 in his building. What will Buck's basis be in the new apartment building? $30,000 $40,000 $50,000 $60,000
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