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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

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

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