Eunice Jean exchanges land held for investment located in Rolla,Missouri,for land to be held for investment located near Madrid,Spain.Her basis for the land given up is $450,000 and the fair market value of the land received is $500,000.Eunice Jean also receives cash of $45,000.
$\text { a. What is Eunice Jean's secognized gain? }$
$\text { b. What is her basis for the land received? }$

Question

Eunice Jean exchanges land held for investment located in Rolla,Missouri,for land to be held for investment located near Madrid,Spain.Her basis for the land given up is $450,000 and the fair market value of the land received is $500,000.Eunice Jean also receives cash of $45,000.
 $\text { a. What is Eunice Jean's secognized gain? }$
$\text { b. What is her basis for the land received? }$

Quizplus · Accepted Answer

The Answer of Eunice Jean exchanges land held for investment located in Rolla,Missouri,for land to be held for investment located near Madrid,Spain.Her basis for the land given up is $450,000 and the fair market value of the land received is $500,000.Eunice Jean also receives cash of $45,000.
 $\text { a. What is Eunice Jean's secognized gain? }$
$\text { b. What is her basis for the land received? }$

Eunice Jean Exchanges Land Held for Investment Located in Rolla,Missouri,for a. What is Eunice Jean’s secognized gain? \text { a. What is Eunice Jean's secognized gain? } a. What is Eunice Jean’s secognized gain?

Eunice Jean Exchanges Land Held for Investment Located in Rolla,Missouri,for $\text { a. What is Eunice Jean's secognized gain? }$