Matthew Exchanges an Investment Apartment Building for a Parcel of Land.The

question 108

Multiple Choice

Matthew exchanges an investment apartment building for a parcel of land.The apartment building has a fair market value of $80,000 and an adjusted basis of $95,000.The land's value is $60,000.Matthew receives $20,000 cash in the exchange.What is Matthew's recognized gain or (loss) on the exchange and his basis in the land?
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Gain (Loss) Recognized Basis

• A)$ - 0 - $75,000
• B)$(15,000) $65,000
• C)$(35,000) $85,000
• D)$20,000 $30,000
• E)$15,000 $35,000

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Definitions:

Inhibited

Characterized by a restraint or suppression of impulses, emotions, or behaviors.

Uninhibited Reactions

Behavioral responses characterized by the lack of restraint or consideration of societal norms.

Fathers

Refers to male parents who play significant roles in child rearing and development, influencing aspects such as emotional health and social behaviors.

Gender-typing

The process by which children learn about societal expectations, roles, and behaviors associated with their assigned gender.