Marinda exchanges an office building worth $800,000 (basis is $820,000) for a warehouse worth $850,000. As part exchange she also transfers $50,000 worth of securities which she purchased for $40,000.
a. What are Marinda's realized and recognized gains (losses) on the two assets exchanged?
b. What is Marinda's basis in the warehouse acquired?

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The Answer of Marinda exchanges an office building worth $800,000 (basis is $820,000) for a warehouse worth $850,000. As part exchange she also transfers $50,000 worth of securities which she purchased for $40,000.
a. What are Marinda's realized and recognized gains (losses) on the two assets exchanged?
b. What is Marinda's basis in the warehouse acquired?

Marinda Exchanges an Office Building Worth $800,000 (Basis Is $820,000)