X exchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, for Ys 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?	Blank 1
What is the gain or loss realized for Y on the stock?	Blank 2
What is the gain or loss realized for Y on the like kind exchange property?	Blank 3
What amount of gain or loss must X recognize?	Blank 4
What amount of gain or loss must Y recognize from the stock?	Blank 5
What amount of gain or loss must Y recognize from the like kind exchange?	Blank 6
What is Xs basis in the new property?	Blank 7
What is Xs basis in the stock?	Blank 8
What is Ys basis in the new property?	Blank 9