IT HWch12 - b 9,000 realized loss none recognized and new...

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what I receive 65,000 65,000 100,000 what I received 450,000 10,000 20,000 2,000 boot/realized gain 100,000 basis -50,000 -70,000 -70,000 basis -400,000 25,000 realized gain 15,000 32,000 real gain 150,000 10,000 15,000 2,000 recognized gain 100,000 basis of old property fair market value of property received -boot received +any unrecognized loss +gain recognized -any unrecognized gain = new basis 29 a 52,000 realized gain 16,000 recognized(boot) and new basis is 34,000
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Unformatted text preview: b 9,000 realized loss none recognized and new basis is 27,000 c 27,000 realized gain 27,000 recognized and new basis of 61,000 31 444,000 with 26,000 as recognized gain 26,000 new barge has a basis of 350,000(350,000-26,000+26,000=350,000)-350,000 or 444,000 - 94,000 = 350,000 120,000 realized gain new computer has basis of 26,000...
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This note was uploaded on 03/26/2012 for the course ACCT ACCT210 taught by Professor Challanworthington during the Spring '10 term at S. Alberta Tech.

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