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Estimating recognized gain and loss

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Reference no: EM13154090

Maud exchanges a rental house at the beach with an adjusted basis of $240,000 and a fair market value of $220,000 for a rental house at the mountains with a fair market value of $190,000 and cash of $30,000. What is the recognized gain or loss?

a. $0.

b. $20,000.

c. $30,000.

d. ($20,000).

e. None of the above.

Reference no: EM13154090

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