Examlex
Kai owns an apartment building held for investment purposes.The apartment building is worth $500,000,although it is subject to a mortgage of $100,000.Kai's basis in the apartment building is $380,000.Kai exchanges the apartment building for an office building.The office building has an FMV of $350,000.Kai receives $50,000 cash in addition to receiving the office building,and the other party assumes the apartment building mortgage.What is Kai's recognized gain on this exchange?
Restating
The act of expressing the same idea or concept in different words, often to provide clarity or emphasis.
Original Passage
A specific section of text or spoken words that has not been modified or simplified from its initial form.
Own Words
The unique manner in which someone expresses ideas or information, distinct from direct quotes or paraphrasing.
Documentation Format
The prescribed structure and layout for official documents or records, adhering to specific standards or guidelines.
Q3: What is the significance of the Thor
Q6: On June 11, of last year, Derrick
Q13: There are few tools to facilitate the
Q23: In progressive discipline, termination is seen as
Q56: On June 30, 2014, Temika purchased office
Q57: Martha is self-employed in 2014. Her business
Q69: Which of the following citations is the
Q74: In year 1 a contractor agrees to
Q85: Amounts paid in connection with the acquisition
Q127: Daniel transfers land with a $92,000 adjusted