Harold and Tom exchange land in a like$-$kind exchange. Harold receives land with a fair market value of $$50,000$ and transfers land worth $$43,000($adjusted basis of $$45,000)$ and cash of $$1,000.$ How much of Harolds realized gain is recognized? 

 

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To calculate how much of Harolds realized gain is recognized in the likekind exchange with ... View the full answer