Tulip, Inc., would like to dispose of some land it acquired four years ago because the land will not continue to appreciate. Its value has increased by $50,000 over the four-year period. The company also intends to sell stock that has declined in value by $50,000 during the six months since its purchase. Tulip has four offers to acquire the stock and land:
Buyer 1: ....... Exchange land.
Buyer 2: ....... Purchase land for cash.
Buyer 3: ....... Exchange stock.
Buyer 4: ....... Purchase stock for cash.
Identify the tax issues relevant to Tulip in disposing of this land and stock.