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Determine Stephanie Realized and recognized gain or loss

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Problem - Stephanie owns land (adjusted basis of $90,000; fair market value of $125,000) that she uses in her business. She exchanges it for another parcel of land (worth $100,000) and stock (worth $25,000). Determine Stephanie's:

a. Realized and recognized gain or loss on the exchange.

b. Basis in the new land.

c. Basis in the stock she received.

Reference no: EM132670755

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