Risa Exchanges an Office Building with a $600,000 Adjusted Basis

question 57

Multiple Choice

Risa exchanges an office building with a $600,000 adjusted basis for an apartment building with a $1,000,000 FMV and $200,000 of marketable securities.The other party indicates he had paid $175,000 for the securities a year earlier.What is Risa's basis for the securities?

• A)$0
• B)$175,000
• C)$200,000
• D)none of the above.

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Definitions:

Meninges

The three protective membranes that cover the brain and spinal cord, consisting of the dura mater, arachnoid mater, and pia mater.

Subarachnoid space

The space surrounding the brain and spinal cord, situated between the arachnoid membrane and the pia mater, which contains cerebrospinal fluid.

Subarachnoid space

The fluid-filled space surrounding the brain and spinal cord between the arachnoid membrane and the pia mater.

Cerebrospinal fluid

A clear, colorless body fluid found in the brain and spinal cord, acting as a cushion for the brain's cortex, providing basic mechanical and immunological protection to the brain inside the skull.