Question: Exercise 15-19 (Algorithmic) (LO. 3) Camilo's property, with an adjusted basis of $248,200, is condemned by the state. Camilo receives property with a fair market

Exercise 15-19 (Algorithmic) (LO. 3) Camilo's property, with an adjusted basis

Exercise 15-19 (Algorithmic) (LO. 3) Camilo's property, with an adjusted basis of $248,200, is condemned by the state. Camilo receives property with a fair market value of $285,430 as compensation for the property taken. If an amount is zero, enter "O". a. What is Camilo's realized and recognized gain? Camilo's realized gain is $ and his recognized gain is $ b. What is the basis of the replacement property? The basis of the replacement property is $

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