TB ES Qu. 11-102 Odintz traded land for land. Odintz originally... Odintz traded land for land Odintz originally purchased its land for $150000. The land received was purchased for $200,000 and was subject to a mortgage of $50,000 that was paid off before the transfer. The fair market value of the new land is $240.000. What is Odintz's adjusted basis in the new land after the exchange