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Sam has a Boot Factory with an Adjusted Basis in his hands of 250,000. He exchanges it for Bobs Boot Factory worth 500,000, and 50,000
Sam has a Boot Factory with an Adjusted Basis in his hands of 250,000. He exchanges it for Bobs Boot Factory worth 500,000, and 50,000 cash. In this transaction Sam's Gain Recognized is:
$50,000 | ||
$300,000 | ||
$550,000 | ||
zero | ||
None of the Above |
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