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I trade an apple orchard ( basis 100,000 and its FMV is 160,000) for an orange orchard FMV 160,000. What is my realized gain? Recognized
I trade an apple orchard ( basis 100,000 and its FMV is 160,000) for an orange orchard FMV 160,000. What is my realized gain? Recognized gain? What is the basis in the new orchard?
What if I traded the orchard for another one with a FMV of 130,000 and a 30,000 car. What is my realized gain? Recognized gain? What is my basis in the new orchard? What is my basis in the car?
What if I traded the orchard for an airplane 160,000FMV. What is my realized gain? recognized gain? what is my basis in the airplane?
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