Required information TThe following information applies to the questions displayed below] Kase, an indlidual, purchased...
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Required information TThe following information applies to the questions displayed below] Kase, an indlidual, purchased some property in Potomac, Maryland, for $225,000 approximately 10 years ago. Kase is approached by a real estate agent representing a cllent who would like to exchange a parcel of land in North Carolino for Kase's Maryand property. Kase agrees to the exchange. What is Kase's realized gain or loss, recognized gain or loss, and bosis in the North Carolina property in eoch of the following altemative scentrios? Note: Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero If applicable. b. The transaction qualifies as a like-kind exchange, and the fair market value of each properfy is $156.000
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