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Problem 13-69 (LO. 6) Kareem owns a pickup truck that he uses exclusively in his business. The adjusted basis is $22,000, and the fair market
Problem 13-69 (LO. 6) Kareem owns a pickup truck that he uses exclusively in his business. The adjusted basis is $22,000, and the fair market value is $14,000 Kareem exchanges the truck for another truck that he will use exclusively in his business. If an amount is zero, enter "O" aa.. Karcserrs r%lized loss is $ and his recognized loss is b. Kareem's basis in the new truck is c. What are the tax consequences to Kareem if he used the old truck and will use the new truck exclusively for personal purposes? He will have a realized that recognized, and the basis for the new truck is
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