Consider the following 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 "0" 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
	$95,000			$0			$100,000

Data Table

Basis of Land			FMV of			FMV of
Exchanged			Boot Received			Land Received
	$95,000			$0			$100,000
	60,000			33,000			115,000
	40,000			20,000			55,000
	35,000			45,000			25,000
	80,000			29,000			35,000