Question
Jan had land in Virginia with a FMV of $50,000 and an adjusted basis of $40,000. She exchanged it for land in Maryland with a
Jan had land in Virginia with a FMV of $50,000 and an adjusted basis of $40,000. She exchanged it for land in Maryland with a FMV of $55,000. Jan also paid $5,000 cash in the transaction. What is Jan's basis in the land received?
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Environmental Health And Safety Audits
Authors: Lawrence B. Cahill
8th Edition
0865878250, 978-0865878259
