Cristina is trading ocean - front real property used for business purposes for new real property (
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Question:
Cristina is trading oceanfront real property used for business purposes for new real property currently owned by Victoria to be used in business. Cristina's real property originally cost $ and she has taken $ in depreciation. Cristina's real property is currently worth $ and the new real property owned by Victoria is only worth FMV $ Victoria agrees to give Cristina $ in cash in addition to the new real property. What is Cristina's basis in the new real property received?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: