$18.$ Robert exchanged an office building for a warehouse on January $5,2021.$ He had an adjusted basis of $$0$ in the office building and the warehouse had a FMV of $$300,000.$ Robert had taken $$200,000$ of accumulated depreciation on the office building. $(18-$year accelerated depreciation under ACRS on non$-$residential property$).$ As part of the exchange, the exchange partner assumed a $$50,000$ mortgage on the office building.

Hint: Remember nonresidential real property depreciated under ACRS is $1245$ property, not $1250$ property.