What is Robert's realized gain? b. $480,000 e. $270,000 d. $205,000 e. None of the above 7. What is Robert's recognized gain? b. $270,000 c. $50,000 d. $130,000 e. None of the above 28. What is Robert's adjusted basis in the farmhouse after the exchange? a. $340,000 b. $210,000 c. $275,000 d. $370,000 29. What is Frank basis in the building after the exchange? a. $355,000 b. $225,000 c. $275,000 d. $305,000 e. None of the above 30. In McBride v. Commissioner, the issues before the court were: a. Whether taxpayer was entitled to three dependency exemption deductions. b. Whether the taxpayer was entitled to the "married filing joint" filing status. c. Whether interest income should be included in "adjusted gross income. d. Whether a gift of an automobile could be excluded for taxable income e. None of the Above