15-48 Like-Kind Exchanges. Complete the following table for exchanges that qualify for like kind exchange treatment under 1031. Adjusted Basis of PropertyProperty Given Up -Recerved . FMV of Basis of Property RecognizedReceived Cash Boot Cash Boot Paid Gain or Loss Received Received - 3,000 5,000 4,000 7,000 5,000 3,000 4,000 $2,500 5,000 6,000 5,900 4,000 3,200 3,600 1,000 $ 1,000 0 0 2,500 200 500