Determine the realized, recognized, and postponed gain or loss and the new basis for each of the following like-kind exchanges: 

g. Create a Microsoft Excel spreadsheet that—by entering the fair market value and basis of property given up and the fair market value of property received— will compute (1) realized gain or loss, (2) boot received, (3) boot given, (4) gain (loss) recognized, (5) gain (loss) deferred, and (6) the basis of like-kind property received. In separate tabs, the spreadsheet should apply the “simplified method” and the “§ 1031(d) method.” Ignore the implications of debt and depreciation. Test your spreadsheet using the data in this problem (and problems 35 and 37). E-mail your spreadsheet to your instructor along with a brief summary of how you built the spreadsheet.

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Adjusted Basis of Old Asset Fair Market Value Вoot Boot Given of New Asset Received $ 7,000 $ -0- $12,000 $4,000 а. b. 14,000 2,000 15,000 -0- с. 3,000 7,000 8,000 500 d. 15,000 29,000 -0- е. 10,000 -0- 11,000 1,000 f. 17,000 -0- 14,000 -0-