Jan had fand in Virginia with a FMV of 55,000 and an adjusted basis of $40,000. She exchanged it for land in Maryland with > TV of $52,000. Jan also paid $3,000 cash in the transaction. What is Jan's basis in the land received? O $55,000 552,000 O $40.000 O 543,000 O 558,000 Jom had a parcel of land with an add basis of $35,000 and a fair market value of $45,000. He exchanged the land for another part of and what value of $42,000 and $3,000 cash. What is thus recognized gain or loss? O 57.000 gain 00,000 O $3.000 loss O $3.000 g No gain or los