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You exchange parking lot B (adjusted basis $15,000) for a new parking lot C (FMV of $20,500) and pay $5,000. Your basis in the new
You exchange parking lot B (adjusted basis $15,000) for a new parking lot C (FMV of $20,500) and pay $5,000. Your basis in the new parking lot is: A) $15,000 B) $5,000 C) $20,000 D) $20,500
A) $15,000
B) $5,000
C) $20,000
D) $20,500
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