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Consider the following like-kind exchanges (Click the icon to view the like-kind exchanges.) Requirement Determine the realized gain or loss, the recognized gain or loss,
Consider the following like-kind exchanges (Click the icon to view the like-kind exchanges.) Requirement Determine the realized gain or loss, the recognized gain or loss, and the basis of the land received for each like-kind exchange (Enter a loss with a minus sign or parentheses. Complete all input fields. Enter a 'O' for any zero balances) Basis of Land FMV of FMV of Realized Recognized Basis of Land Exchanged Boot Received Land Received Gain (Loss) Gain (Loss) Received $ 25,000 $ 0 $ 35,000 100000 80000 30,000 13,000 105,000 13000 35000 70,000 24.000 85,000 24000 75,000 20,000 25,000 20000 80,000 10,000 55,000 43000
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