Taxpayer A transferred income producing real property X with adjusted basis of $80,000, fair market...
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Taxpayer A transferred income producing real property X with adjusted basis of $80,000, fair market value of $250,000, and subject to a mortgage of $100,000 to Taxpayer B, in exchange for real property Y, which A intends to use for production of income, with fair market value of $200,000. In addition to property X, A also gave $30,000 in cash and stock with fair market value of $20,000 and basis of $60,000. A. How much is the gain or loss realized by A on property X? B.How much is the gain or loss realized by A on the stock? C. How much is the gain or loss recognized by A on disposition of property X? D. How much is the gain or loss recognized by A on the disposition of the stock? E. What is the basis of property Y in A's hands
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