Richard exchanges a building with a basis of $35,000,and subject to a liability of $25,000,for land with a FMV of $50,000 owned by Bill.Bill takes the building subject to the liability.What is the amount of Richard's realized gain?
A)$0
B)$15,000
C)$25,000
D)$40,000

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The Answer of Richard exchanges a building with a basis of $35,000,and subject to a liability of $25,000,for land with a FMV of $50,000 owned by Bill.Bill takes the building subject to the liability.What is the amount of Richard's realized gain?
A)$0
B)$15,000
C)$25,000
D)$40,000

Richard Exchanges a Building with a Basis of $35,000,and Subject