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  3. 44. taxpayer exchanges parcel a (fmv = $200,000, b

44. Taxpayer exchanges parcel A (FMV = $200,000, basis = $150,000) for...

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Accounting

44. Taxpayer exchanges parcel A (FMV = $200,000, basis = $150,000) for parcel B (FMV = $120,000) and $80,000 cash.
a. Recognized gain is _____________
b. Taxpayers basis in parcel B is ___________

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