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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
What is the basis of the new property in each of the following exchanges?
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a. Apartment building held for investment (adjusted basis of $145,000) for office building to be held for investment (fair market value of $225,000).
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b. Land and building used as a barbershop (adjusted basis of $190,000) for land and
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building used as a grocery store (fair market value of $350,000).
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c. Office building (adjusted basis of $45,000) for bulldozer (fair market value of
Â
$42,000), both held for business use.
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d. IBM common stock (adjusted basis of $20,000) for ExxonMobil common stock (fair
market value of $28,000).
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e. Rental house (adjusted basis of $90,000) for mountain cabin to be held for rental
Â
use (fair market value of $225,000).
f. General partnership interest (adjusted basis of $400,000) for a limited partnership
interest (fair market value of $580,000).
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