Dexter Davenport Had an Adjusted Basis of $230,000 in Real

question 77

Multiple Choice

Dexter Davenport had an adjusted basis of $230,000 in real estate which he held for investment. He exchanged it for other real estate to be held for investment with a fair market value of $210,000, a boat with a fair market value of $45,000 and $15,000 cash. What is Dexter's basis in the real estate and the boat received?

• A) Real Estate: $210,000; Boat: $30,000
• B) Real Estate: $210,000; Boat: $45,000
• C) Real Estate: $225,500; Boat: $45,000
• D) Real Estate: $230,000; Boat: $40,000

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Definitions:

Elementary School

An educational institution for early education of children, typically from kindergarten through fifth or sixth grade.

Developmentally Regressive

Behaviors or actions that signify a return to earlier stages of developmental progress, often in response to stress or trauma.

Curriculum

The subjects comprising a course of study in a school or college.

Autonomy

The capacity to make informed, uncoerced decisions independently, often viewed as an essential aspect of personal development and ethical principle.