Francis and Samantha are owners of separate commercial office buildings in different cities. Through a third party commercial real estate agency, each learned that the other had an interest in swapping office buildings. Francis agreed to pay Samantha an additional $100,000 for her building. Before the swap, Francis's basis in her building was $150,000, and Samantha's basis in her building was $225,000. What will Francis's basis be in her new building?

Answer rating: 100% (QA)

In a likekind exchange also known as a 1031 exchange the basis in the new ... View the full answer