Harty changes landed in his business for different land he will be orth $100,000 and his beslis in it was $80,000. The land he got bede was worth 12.000 and he How much gain will he recognize (be taced on) on the transaction 5.000 512.000 120,000 QUESTION 6 in a like kind exchange between Lou and Sam, Lou exchanged land used in his business for different land he will use in his business. The land he gave up was worth $80,000 and his basis in it was $50,000. It was subject to $5,000 of debt. The land he tot back was worth $75,000 and Sam took over Lou's 55.000 debt. How much gain will Lou recognize (be taxed on on the transaction? Zero $5.000 525.000 Harty changes landed in his business for different land he will be orth $100,000 and his beslis in it was $80,000. The land he got bede was worth 12.000 and he How much gain will he recognize (be taced on) on the transaction 5.000 512.000 120,000 QUESTION 6 in a like kind exchange between Lou and Sam, Lou exchanged land used in his business for different land he will use in his business. The land he gave up was worth $80,000 and his basis in it was $50,000. It was subject to $5,000 of debt. The land he tot back was worth $75,000 and Sam took over Lou's 55.000 debt. How much gain will Lou recognize (be taxed on on the transaction? Zero $5.000 525.000