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1031 and 1033 EXERCISE In the following 1031 exchanges, calculate the realized gain or loss on the exchange, the recognized gain or loss on the exchange, and the cost basis of the like-kind property received. (1/2 point each) FMV of Property Boot ReceivedReceived Gain(Loss) Gain (Loss) Received Cost Basis Cost Basis of Property Realized Recognized of Property Boot Given Traded 25,000 35,000 10,000 40,000 50,000 40,000 60,000 12,000 35,000 35,000 15,000 8,000 5,000 6,000 In the following 1033 involuntary conversions, calculate the realized gain or loss from the casualty, the recognized gain or loss from the casualty, and the cost basis of the replacement property purchased. (1/2 point each) Cost Basis Realized Recognizedof Property ReceivedReinvestedGain(Loss)Gain(Loss) Purchased Cost Basis Insurance of Property Proceeds Amount Destoyed 250,000 300,000 450,000375,000 450,000 550,000 1031 and 1033 EXERCISE In the following 1031 exchanges, calculate the realized gain or loss on the exchange, the recognized gain or loss on the exchange, and the cost basis of the like-kind property received. (1/2 point each) FMV of Property Boot ReceivedReceived Gain(Loss) Gain (Loss) Received Cost Basis Cost Basis of Property Realized Recognized of Property Boot Given Traded 25,000 35,000 10,000 40,000 50,000 40,000 60,000 12,000 35,000 35,000 15,000 8,000 5,000 6,000 In the following 1033 involuntary conversions, calculate the realized gain or loss from the casualty, the recognized gain or loss from the casualty, and the cost basis of the replacement property purchased. (1/2 point each) Cost Basis Realized Recognizedof Property ReceivedReinvestedGain(Loss)Gain(Loss) Purchased Cost Basis Insurance of Property Proceeds Amount Destoyed 250,000 300,000 450,000375,000 450,000 550,000

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