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Katie traded computer equipment used in her business to a computer dealer for some new computer equipment. Katie originally purchased the computer equipment for $15,000
Katie traded computer equipment used in her business to a computer dealer for some new computer equipment. Katie originally purchased the computer equipment for $15,000 and it had an adjusted basis of $11,000 at the time of the exchange. The computer equipment was worth $12,000 at the time of the exchange. Katie also received a used copier worth $2,000 in the transaction.
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Realized Gain/Loss | Recognized Gain/Loss | Basis in New Asset |
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