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George purchased a rental house (House A) in 2002 for $250,000. While George owned the house, George took depreciation deductions totaling $50,000 (assume this is

George purchased a rental house (House A) in 2002 for $250,000. While George owned the house, George took depreciation deductions totaling $50,000 (assume this is the proper amount). George also made $100,000 worth of capital improvements to the house. In 2019, the rental house is worth $700,000. George wants to dispose of the rental house and obtain a new rental house (House B), also worth $700,000, but George does not want to generate any taxable gains by selling House A. What would Georges recognized gain or loss be if George exchanged House A for House B in a like-kind exchange? Enter gain as a positive number or loss as a negative number.

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