In an exchange, Tucker gave up his fully depreciated rental condominium (FMV $90,000) and $10,000...
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In an exchange, Tucker gave up his fully depreciated rental condominium (FMV $90,000) and $10,000 for an office building (FMV $100,000). What is the gain realized and recognized on the exchange? ______ realized gain; _____ recognized gain.
$90,000; $0.
$0; $100,000.
$90,000; $10,000.
$10,000; $90,000.
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