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Kai owns an apartment building held for investment purposes. The apartment building is worth $ 5 0 0 , 0 0 0 , although it
Kai owns an apartment building held for investment purposes. The apartment building is worth $ although it is subject to a mortgage of $ Kai's basis in the apartment building is $ Kai exchanges the apartment building for an office building. The office building has an FMV of $ Kai receives $ cash in addition to receiving the office building, and the other party assumes the apartment building mortgage. What is Kai's recognized gain on this exchange? A $ B $ C $ D $
Kai owns an apartment building held for investment purposes. The apartment building is worth $ although it is subject to a mortgage of $ Kai's basis in the apartment building is $ Kai exchanges the apartment building for an office building. The office building has an FMV of $ Kai receives $ cash in addition to receiving the office building, and the other party assumes the apartment building mortgage. What is Kai's recognized gain on this exchange?
A $
B $
C $
D $
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