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Jena exchanges land held as an investment with $60,000 basis for other land with a $ 80,000 FMV and a motorcycle with a $ 10,000
Jena exchanges land held as an investment with $60,000 basis for other land with a $ 80,000 FMV and a motorcycle with a $ 10,000 FMV and an adjusted basis of $ 3,000 . The acquired land is to be held for investment and the motorcycle is for personal use . What is the amount of recognized gain ?
$ 0
$ 30,000
$ 10,000
$ 20,000
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The Wall Street Mba
Authors: Reuben Advani
2nd Edition
007178831X, 9780071788311
