Richard Exchanges a Building with a FMV of $75,000,a Basis

question 51

Multiple Choice

Richard exchanges a building with a FMV of $75,000,a basis of $35,000,and subject to a liability of $25,000 for land with a FMV of $50,000 owned by Bill.What is the amount of Richard's realized gain?

• A)$0
• B)$15,000
• C)$25,000
• D)$40,000

---

Definitions:

Self-Motivation

The internal drive that prompts an individual to take action and pursue goals without external incentives or pressures.

Emotional Intelligence

The ability to understand and manage one's own emotions and to recognize and influence the emotions of others.

Cross-Cultural Effectiveness

The ability to successfully interact, work, or perform tasks in a multicultural environment by understanding and adapting to diverse cultures.

Direct Communication

A straightforward and clear way of expressing ideas or giving instructions, avoiding ambiguity or indirectness.