Question
Kal Fein owns investment land that he bought for $100,000. He trades it for another parcel of land worth $100,000 plus a painting worth $100,000.
Kal Fein owns investment land that he bought for $100,000. He trades it for another parcel of land worth $100,000 plus a painting worth $100,000. How much gain does Kal recognize as a result of this transaction?
| A. | $0 | ||
| B. | $28,000 | ||
| C. | $100,000 | ||
| D. | $200,000 |
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Handbook Of Energy Audits
Authors: Albert Thumann, Terry Niehus, William J. Younger
8th Edition
1439821453, 978-1439821459
