Business, 24.05.2021 14:00 paolaviviana
In a $1031 like-kind exchange, Rafael exchanges a business building that originally cost $346,800. On the date of the exchange, the building given up has an adjusted basis of $138,720 and a fair market value of $190,740. Rafael pays $28,611 and receives a building with a fair market value of $219,351.
Compute the following.
a. Rafael's realized gain on the exchange is $.
b. Rafael's recognized $1031 gain is $___.
c. Rafael's $1245 depreciation recapture of $___is carried over to the replacement property.
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In a $1031 like-kind exchange, Rafael exchanges a business building that originally cost $346,800. O...
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