Logan and Jonathan exchange land, and the exchange qualifies as like-kind under 1031. Because Logan's...
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Accounting
Logan and Jonathan exchange land, and the exchange qualifies as likekind under Because Logan's land adjusted basis of $ is worth $ and Jonathan's land has a fair market value of $ Jonathan also gives Logan cash of $
a Logan's recognized gain is $fill in the blank
b Assume that Jonathan's land is worth $ and he gives Logan $ cash.
Logan's recognized gain is $fill in the blank
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