Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse

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Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $218,000. The appraised fair market value of the warehouse was $117,000, and the appraised value of the land was $174,000.

What is Bob's basis in the warehouse and in the land?

Posted Date: Jun 14, 2024 04:04 AM

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Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse

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