Brett sold land he had held for 8 years valued at $210,000 in Year 1. His original

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Brett sold land he had held for 8 years valued at $210,000 in Year 1. His original basis in the land was $180,000. For the land, Brett received $60,000 in cash in the current year and a note providing $150,000 in the following year.

Year	Realized Gain/Loss	Recognized Gain/Loss	Basis in New Asset
Year 1
Year 2

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Federal Taxation 2019 Individuals

ISBN: 9780134739670

32nd edition

Authors: Timothy J. Rupert, Kenneth E. Anderson

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Posted Date: Dec 16, 2020 01:49 AM

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Brett sold land he had held for 8 years valued at $210,000 in Year 1. His original

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Federal Taxation 2019 Individuals

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