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FMV of new property $100,000 cash received $20,000 = $120,000 total amount realized Adjusted basis of the old property $82,000 $120,000 - $82,000 = $38,000
FMV of new property $100,000 cash received $20,000 = $120,000 total amount realized Adjusted basis of the old property $82,000 $120,000 - $82,000 = $38,000 realized gain Recognized Gain: Boot received $20,000 Realized gain $38,000 Recognized gain $20,000. what is the new basis
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
