Lucinda has real estate used in her business. She exchanges it for like-kind real estate...
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Lucinda has real estate used in her business. She exchanges it for likekind real estate owned by Brandon. Lucinda and Brandon are not related. The basis of Lucindas real estate is $ and she gives Brandon $ cash plus the real estate in exchange for Brandons real estate, which is worth $ Brandons basis in his original real estate is $ What is Lucindas recognized gain or loss? a $ b $ gain. c $ loss. d $ gain
Lucinda has real estate used in her business. She exchanges it for likekind real estate owned by
Brandon. Lucinda and Brandon are not related. The basis of Lucindas real estate is $ and she
gives Brandon $ cash plus the real estate in exchange for Brandons real estate, which is worth
$ Brandons basis in his original real estate is $ What is Lucindas recognized gain or loss?
a $
b $ gain.
c $ loss.
d $ gain
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