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Isaac buys a piece of land as an investment, paying $20,000. Three years later he trades the land to Isadore for a piece of land

Isaac buys a piece of land as an investment, paying $20,000. Three years later he trades the land to Isadore for a piece of land worth $26,000. Isaac holds the new land as an investment

1) What is Isaacs holding period in the new land he receives?

Does Isaac recognize a gain on the swap of the land and if so how much is it?

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