You have just sold a condo that you own in 1 Vegas Nevada in return for some cash and property on Lake Tahoe which includes a cabin. What is the amount Relined the sale, your Adjusted Basis and your Gain or Los Realized and Recognized You paid $400,000 for a two-bedroom condo in Las Vegas to the Strip and over the past 10 years you have used it for rental property and claimed 365.000 for depreciation. You made 540.000 in Capital Improvements in the condo in Las Vegas. You owe approximately $120,000 on the condo and the buyer sumed the mortgage for you. The cost of the sale was $50,000 which was deducted at closing. The person who bought the condopold you $200.000 in cath and the Cabin in Lake Tahoe is worth $300,000 fuit market value. He has mortage on this property Detaling $50,000 which you have assumed Show Your Work! Amount Realized Adjusted Gain Loss Realized Gain/Loss Recognized: You have just sold a condo that you own in 1 Vegas Nevada in return for some cash and property on Lake Tahoe which includes a cabin. What is the amount Relined the sale, your Adjusted Basis and your Gain or Los Realized and Recognized You paid $400,000 for a two-bedroom condo in Las Vegas to the Strip and over the past 10 years you have used it for rental property and claimed 365.000 for depreciation. You made 540.000 in Capital Improvements in the condo in Las Vegas. You owe approximately $120,000 on the condo and the buyer sumed the mortgage for you. The cost of the sale was $50,000 which was deducted at closing. The person who bought the condopold you $200.000 in cath and the Cabin in Lake Tahoe is worth $300,000 fuit market value. He has mortage on this property Detaling $50,000 which you have assumed Show Your Work! Amount Realized Adjusted Gain Loss Realized Gain/Loss Recognized