In a § 1031 like-kind exchange, Rafael exchanges a business building that originally cost $310,800. On the date of the exchange, the building given up has an adjusted basis of $124,320 and a fair market value of $170,940. Rafael pays $25,641 and receives a building with a fair market value of $196,581. Compute the following. If an amount is zero, enter "0". a. Rafael's realized gain on the exchange is $ b. Rafael's recognized § 1031 gain is $ c. Rafael's unrecaptured § 1250 gain of $ 0 X. X is carried over to the replacement property

In a § 1031 like-kind exchange, Rafael exchanges a business building that originally cost $310,800. On the date of the exchange, the building given up has an adjusted basis of $124,320 and a fair market value of $170,940. Rafael pays $25,641 and receives a building with a fair market value of $196,581. Compute the following. If an amount is zero, enter "0". a. Rafael's realized gain on the exchange is $ b. Rafael's recognized § 1031 gain is $ c. Rafael's unrecaptured § 1250 gain of $ 0 X. X is carried over to the replacement property

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter14: Property Transact Ions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 37CE

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