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In a Section 1031 exchange, Giovanni traded in his old parcel of land, which had...

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Accounting

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In a Section 1031 exchange, Giovanni traded in his old parcel of land, which had an adjusted basis of $13,800, for another parcel of land with a FMV of $30,000. What is Glovanni's basis in the new parcel of land? $18,000 $25,800 $13,800 $30,000

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