Moss Exchanges a Warehouse for a Building He Will Use

question 171

Multiple Choice

Moss exchanges a warehouse for a building he will use as an office building. The adjusted basis of the warehouse is $600,000 and the fair market value of the office building is $350,000. In addition, Moss receives cash of $150,000. What is the recognized gain or loss and the basis of the office building?

• A) $0 and $350,000.
• B) $0 and $450,000.
• C) ($150,000) and $300,000.
• D) ($200,000) and $350,000.
• E) None of the above.

---

Definitions:

Imaginal Exposure

A therapeutic technique where individuals are guided to vividly imagine and confront the content of their fears or traumatic memories in a safe environment.

Meta-Analysis

An advanced statistical method that combines the outcomes from multiple studies to ascertain trends and evidences across research efforts.

Alcohol Dependent

A condition characterized by a physical and emotional dependence on alcohol, often resulting in significant adverse effects on an individual's personal, social, and professional life.

Eye Movement Desensitization

A therapeutic process part of EMDR that involves using eye movements to alleviate distress associated with traumatic memories.