Daniella exchanges business land with a $100,000 adjusted basis for $10,000 cash and business land with a $96,000 FMV.What is the amount of gain recognized on the exchange?
A)$0
B)$4,000
C)$6,000
D)$10,000

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The Answer of Daniella exchanges business land with a $100,000 adjusted basis for $10,000 cash and business land with a $96,000 FMV.What is the amount of gain recognized on the exchange?
A)$0
B)$4,000
C)$6,000
D)$10,000

Daniella Exchanges Business Land with a $100,000 Adjusted Basis for $10,000