Questions 2.9 are are related. X exchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, fo Y's rental property worth $90,000 which had an adjusted basis of $72,000 and which was subject to a mortgage of $65,000. Y also transferred to X$20,000 worth of stock in which Y had an adjusted basis of $13,000. What is the gain or loss realized for X? gain 70,000 Blank 1 gain 70,000 Question 34 X exchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, for V s rental property worth $90,000 which had an adjusted basis of $72,000 and which was subject to a mortgage of $65,000. Y also transferred to X$20,000 worth of stock in which Y had an adjusted basis of $13,000. What is the gain or loss realized for Y? loss 15,000 B Question 4 X exchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, for Y's rental property worth $90,000 Which had an adjusted basis of $72,000 and which was subject to a mortgage of $65,000, Y also transferred to X$20,000 worth of stock in which Y had an adjusted basis of $13,000. What is the amount of gain or loss that X must recognize? Blank 1 X exchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, for Y s rental property worth $90,000 which had an adjusted basis of $72,000 and which was subject to a mortgage of $65,000. Y also transferred to X$20,000 worth of stock in which Y had an adjusted basis of $13,000. What is the amount of gain or loss that Y must recognize for the stock? 50,000 gain Blank 150,000 gain Question 6 X exchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, for Y s rental property worth $90,000 which had an djusted basis of $72,000 and which was subject to a mortgage of $65,000. Y also transferred to $20,000 worth of stock in which Y had an adjusted basis of $13,000. What is the amount of gain or loss that Y must recognize for the property? 7,000 gain Bla Question 7 X exchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, for Ys rental property worth $90,000 Which had an adjusted basis of $72,000 and which was subject to a mortgage of $65,000.Y also transferred to $20,000 worth of stock in which Y had an adjusted basis of $13,000. What is X basis in the stock? Blank 1