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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
$ 0
$ 30,000
$ 10,000
$ 20,000
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Stats Data And Models
Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock
4th Edition
321986490, 978-0321989970, 032198997X, 978-0321986498
