asked 7.2k views
4 votes
Mateo exchanges a rental house at the beach with an adjusted basis of $225,000 and a fair market value of $200,000 for a rental house at the mountains with a fair market value of $180,000 and cash of $20,000. What is the recognized gain or loss? a.$0 b.$20,000 c.($25,000) d.($20,000)

asked
User Thebaron
by
8.2k points

1 Answer

4 votes

Answer:

B

Step-by-step explanation:

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