27. LO.5 Ross would like to dispose of some land he acquired four years ago because the land will not continue to appreciate. Its value has increased by $50,000 over the four-year period. Ross also intends to sell stock that has declined in value by $50,000 during the six months since its purchase.

Ross has four offers to acquire the stock and land. Identify the tax issues relevant to Ross in disposing of this land and stock.

Buyer 1: Exchange land.

Buyer 2: Purchase land for cash.

Buyer 3: Exchange stock.

Buyer 4: Purchase stock for cash.