Logan and Johnathan exchange land, and the exchange qualifies as like kind under 1031. Because Logan's land (adjusted basis of $218,000) is worth $261,600 and Johnathan's land has a fair market value of $207,100, Johnathan also gives Logan cash of $54,500. a. Logan's recognized gain is $ b. Assume that Johnathan's land is worth $235,440 and he gives Logan $26,160 cash. Logan's recognized gain is $ Camilo's property, with an adjusted basis of $194,200, is condemned by the state. Camilo receives property with a fair market value of $223,330 as compensation for the property taken. If an amount is zero, enter "0". a. What is Camilo's realized and recognized gain? Camilo's realized gain is $ and his recognized gain is $ b. What is the basis of the replacement property? The basis of the replacement property is $ Constanza, who is single, sells her current personal residence (adjusted basis of $195,000) for $546,000. She has owned and lived in the house for 30 years. Her selling expenses are $27,300. What is Constanza's realized and recognized gain? Constanza's realized gain is $ and her recognized gain would be $