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Eric owns property with an adjusted basis of $610,000 subject to a mortgage of $350,000. Eric sells his property subject to the mortgage for $650,000
Eric owns property with an adjusted basis of $610,000 subject to a mortgage of $350,000. Eric sells his property subject to the mortgage for $650,000 in cash, a note for $600,000, and property with a fair market value of $20,000. What is his amount realized
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