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Question 64 of 75. Shirley Lees exchanged her investment-use real property (FMV $30,000, basis $17,000) and $5,000 for a larger piece of investment-use real property
Question 64 of 75. Shirley Lees exchanged her investment-use real property (FMV $30,000, basis $17,000) and $5,000 for a larger piece of investment-use real property (FMV $35,000). What is the gain realized and the gain recognized on the exchange? O $0 and $13,000 O $5,000 and $22,000 O $13,000 and $0 O $22,000 and $5,000 Mark for follow up
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