Business, 02.04.2021 20:20 rlumanlan549

Logan and Johnathan exchange land, and the exchange qualifies as like kind under Â§ 1031. Because Logan's land (adjusted basis of $130,500) is worth $156,600 and Johnathan's land has a fair market value of $123,975, Johnathan also gives Logan cash of $32,625. a. Logan's recognized gain is $fill in the blank 1. b. Assume that Johnathan's land is worth $140,940 and he gives Logan $15,660 cash. Logan's recognized gain is

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Logan and Johnathan exchange land, and the exchange qualifies as like kind under Â§ 1031. Because Lo...

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