Question: 4 4 . Taxpayer exchanges parcel A ( FMV = $ 2 0 0 , 0 0 0 , basis = $ 1 5 0

44. Taxpayer exchanges parcel A (FMV = $200,000, basis = $150,000) for parcel B (FMV = $120,000) and $80,000 cash.
a. Recognized gain is _____________
b. Taxpayers basis in parcel B is ___________

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