Katie exchanged an apartment building (which he rented to tenants) for a commercial warehouse. Information as follows:

1) What she gave:

-apartment building FMV= 20,000,000 which she bought it 5 years ago for 2,000,000 and there was 1,000,000 of Accumulated Depreciation

-mortgage on building (assumed by buyer) of 10,000,000

-furniture and fixtures FMV = 10,000 (adjusted basis = 10,000)

-cash 1,000,000

2) What she got:

-commercial warehouse FMV=22,000,000 (buyer bought for 50,000,000 and there was 1,000,000 of A/D)

-mortgage (assumed by her) 5,000,000

-a car with FMV = 100,000 (buyer bought it for 100,000)

-cash 200,000

Compute all tax consequences