What is the basis of the new property in each of the following exchanges?
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).
b. Land and building used as a barbershop (adjusted basis of $190,000) for land and building used as a grocery store (fair market value of $350,000).
c. Office building (adjusted basis of $45,000) for bulldozer (fair market value of $42,000), both held for business use.
d. IBM common stock (adjusted basis of $20,000) for ExxonMobil common stock (fair market value of $28,000).
e. Rental house (adjusted basis of $90,000) for mountain cabin to be held for personal 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).

  • CreatedMay 25, 2015
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