Stephanie owns a machine (adjusted basis of $90,000; fair market value of $125,000) that she uses in

Question:

Stephanie owns a machine (adjusted basis of $90,000; fair market value of $125,000) that she uses in her business. She exchanges it for another machine (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 machine.
c. Basis in the stock she received.