Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 407 Weeks Ago, 6 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 09 Feb 2018 My Price 4.00

Penny's basis

In 2012, Penny exchanges a lot in Santa Barbara with a mountain view for a lot with an ocean view in a qualifying like-kind exchange. Penny's basis in the land given up is $100,000 and the property has a fair market value of $250,000. In exchange for her property, Penny recieves land with a fair market value of $200,000 and a cash of $20,000. In addition, the other party to the exchange assumes a mortgage loan on Penny's property of $30,000.

a.

calculate Penny's realized gain, if any, on the exchange

b.

calculate Penny's recognized gain, if any, on the exchange

c.

calculate Penny's basis in the property recieved

Answers

Maurice Tutor
(5)
Status NEW Posted 09 Feb 2018 10:02 PM My Price 4.00

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