Xexchanged 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 atso transferred to X$20,000 worth of stock in which Y had an adjusted basis of $13,000. What is the amount of gain or loss that X must recognize? Blank 1 Blank 1 Question 5 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 amount of gain or loss that Y must recognize for the stock? Blank 1 Blank Question 6 Xexchanged rental property worth $50,000 with an adjusted basis of $40,000 and no liabilities, for Y$5 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 amount of gain or loss that Y must recognize for the property? Blank 1