Business, 19.12.2019 06:31 deanperez2637

Matthew exchanges an investment apartment building for a parcel of land. the apartment building has a fair market value of $80,000 and an adjusted basis of $95,000. the land's value is $60,000. matthew receives $20,000 cash in the exchange. what is matthew's recognized gain (loss) on the exchange and his basis in the land?

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Matthew exchanges an investment apartment building for a parcel of land. the apartment building has...