Yael Exchanges an Office Building Worth $150,000 for Investment Land

question 115

Multiple Choice

Yael exchanges an office building worth $150,000 for investment land worth $175,000.He also provided stock worth $25,000.Yael's adjusted basis in the building and stock is $180,000 and $11,000,respectively.How much gain or loss will Yael recognize on the exchange?

• A)$0
• B)($30,000)
• C)($16,000)
• D)$14,000

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