Question: 1031 Like-kind exchange Self created example, need explaination Help Case 1. If I have a property of FMV $500, Basis $100, Loan $150. I would

1031 Like-kind exchange

Self created example, need explaination Help

Case 1. If I have a property of FMV $500, Basis $100, Loan $150. I would like to do exchange of B's property FMV $500, Basis $200. What is gain/loss recognize of each and new basis of each property?

Case 2. If I have a property of FMV $600m, Basis $100. I would like to do exchange of B's property FMV $300, Basis $200, equipement FMV $250, basis $50. What is gain/loss recognize of each party and new basis of each property?

Case 2. If I have a property of FMV $300m, Basis $100, Loan $50. I would like to do exchange of B's property FMV $300, Basis $110, Loan $70. What is gain/loss recognize of each party and new basis of each property?

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