tax accounting question

Problem 13-69 (Algorithmic) (LO. 6) Sarah exchanges a building and land (used in her business) for Tyler's land and building and some equipment (used in his business). The assets have the following characteristics: Adjusted Basis Fair Market Value Sarah's real property $17,400 $6,960 3,480 Tyler's real property 13,920 Equipment 3,132 5,220 a. What are Sarah's recognized gain or loss and basis for the land and building and equipment acquired from Tyler? Her recognized gain is $ 80,000 x . Her adjusted basis in the land and building she acquired from Tyler is 80,000 x, and her adjusted basis in the equipment is $ 12,180 X Feedback Check My Work If the taxpayer in a like-kind exchange gives or receives some property that is not like-kind property, recognition may occur. b. What are Tyler's recognized gain or loss and basis for the land and building acquired from Sarah? Tyler's recognized gain is $ , and his adjusted basis in the land and building he acquired from Sarah is Feedback Check My Work Partially correct Feedback Check My Work Partially correct