$x$ exchanged rental property worth $$50,000$ with an adjusted basis of $$40,000$ and no liabilities, for $Y$ s rental property worth $$90,000$ which had an adjusted basis of $$72,000$ and which was subject to a mortgage of $$65,000.$ Y also transferred to $x$$$20,000$ worth of stock in which $Y$ had an adjusted basis of $$13,000.$

What is the gain or loss realized for $x?$

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What is the gain or loss realized for $Y$ on the stock?

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What is the gain or loss realized for $Y$ on the like kind exchange property?

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What amount of gain or loss must X recognize?

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What amount of gain or loss must $Y$ recognize from the stock?

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What amount of gain or loss must $Y$ recognize from the like kind exchange?

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What is $x\text{'}$s basis in the new property?

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What is X$\text{'}$s basis in the stock?

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What is Ys basis in the new property?

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