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Natalie exchanged business-use land for a four-unit apartment building. She also received $6,000 cash as part of the exchange. At the time, Natalies adjusted basis
Natalie exchanged business-use land for a four-unit apartment building. She also received $6,000 cash as part of the exchange. At the time, Natalies adjusted basis in the land was $150,000, and the fair market value of the apartment building was $160,000. What is the amount of recognized gain from this exchange that Natalie must report on her tax return? ..
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