Question: Adam exchanges an office building with a $110,000 adjusted basis for $30,000 cash and a parking lot with a $130,000 FMV. What is the

Adam exchanges an office building with a $110,000 adjusted basis for $30,000 cash and a parking lot with a $130,000 FMV. What is the

Adam exchanges an office building with a $110,000 adjusted basis for $30,000 cash and a parking lot with a $130,000 FMV. What is the amount of gain which Adam recognizes on the exchange? OA. $20,000 OB. $30,000 OC. $50,000 D. $0

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