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Business, 15.11.2019 05:31 ScardeySpider

Pam owns a personal use boat that has a fair market value of $35,000 and an adjusted basis of $45,000. pam's agi is $100,000. calculate the realized and recognized gain or loss assuming the boat is disposed of under the following independent scenarios:
a. pam sells the boat for $35,000. the realized select loss gain correct 1 of item 1 is $ and the recognized select loss gain correct 3 of item 1 is $.
b. pam exchanges the boat for another boat worth $35,000. the realized select loss gain correct 1 of item 2 is $ and the recognized select loss gain correct 3 of item 2 is $.
c. the boat is stolen and pam receives insurance proceeds of $35,000. pam's realized select loss gain correct 1 of item 3 is $ and her recognized select loss gain correct 3 of item 3 is $.
d. the fair market value and the selling price of the boat were $48,000. pam's realized select loss gain correct 1 of item 4 is $ and her recognized select loss gain correct 3 of item 4 is $

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Pam owns a personal use boat that has a fair market value of $35,000 and an adjusted basis of $45,00...

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