Question: Viktor exchanges stock ( adjusted basis $ 1 9 , 5 0 0 , FMV $ 2 7 , 7 0 0 ) and real

Viktor exchanges stock (adjusted basis $19,500, FMV $27,700) and real estate (adjusted basis $19,500, FMV $47,000) held for investment for other real estate to be held for investment. The real estate acquired in the exchange has a suggested FMV of $71,800.
Required:
What are Viktors realized and recognized gain or loss?
What is the basis of the acquired real estate?

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