Given\ Susan owns a high rise office building. Her adjusted basis in the building is

$760,000

, and she has an outstanding mortgage liability of

$190,000

. She transfers the high rise office building to Dave in return for a low rise office building with a fair market value of

$780,000

, and

$120,000

in cash. Dave's adjusted basis in the low rise office building is

$750,000

. In addition, Dave assumes the

$190,000

mortgage liability on the high rise office building.\ susan is relelved of 190,000\ Do\ a) Determine the fair market value of the high rise office building.\ (FMu should make sen equal)\ b) Determine Susan's realized gain or loss.\ c) Determine Susan's recognized gain or loss.\ d) Determine Susan's postponed gain or loss.\ e) Determine Susan's basis in the newly acquired low rise office building.\ f) Determine Dave's realized gain or loss.\ g) Determine Dave's recognized gain or loss.\ h) Determine Dave's postponed gain or loss.\ i) Determine Dave's basis in the newly acquired high rise office building.

Given Susan owns a high rise office building. Her adjusted basis in the building is $760,000, and sne has an outstanding mortgage liability of $190,000. She transfers the high rise office building to Dave in return for a low rise office building with a fair market value of $780,000, and $120,000 in cash. Dave's adjusted basis in the low rise office building is $750,000. In addition, Dave assumes the $190,000 mortgage liability on the high rise office building. susan is releived of 190,000 Do a) Determine the fair market value of the high rise office building. b) Determine Susan's realized gain or loss. c) Determine Susan's recognized gain or loss. d) Determine Susan's postponed gain or loss. e) Determine Susan's basis in the newly acquired low rise office building. f) Determine Dave's realized gain or loss. g) Determine Dave's recognized gain or loss. h) Determine Dave's postponed gain or loss. i) Determine Dave's basis in the newly acquired high rise office building