UUSI in the urban real estate received? 15.27 Like-Kind Exchange. Refer to Problem 15-26. Assume that V had a basis of $360,000 in the urban real estate transferred to T. a. How much gain must V recognize on the exchange? b. What is V's basis in the farm property received? 15-28 Like-Kind Exchange. B exchanged undeveloped land worth $245,000 with C for developed and worth $225.000 and DEF carnamatinn alm e n n