Chapter 12 unimphtunit apante ne exchanges unimproved basis for an eighta are hel. aPa Ihe marketabl 2.32 Like Kind Exchange: Transfer of Boot Way $50,000 basis and marketable securities with a $10,0 building having a $150,000 FMV. The land and marketable securities as investments, and the apartment building is held as an investment. curities have a $25,000 FMV. What is his realized gain, recognized gain the anartment building? Transfer of Boot. Wayne exchanges unim tinr Roh owns a duplex used as rental p