Lisa exchange machinery ( adjusted basis $44,000) for an office building with FMV of $98,000. The office building is subject to a $45,000 mortgage

 Lisa exchange machinery ( adjusted basis $44,000) for an office building with FMV of $98,000. The office building is subject to a $45,000 mortgage which Lisa assumes. Lisa must recognizes a gain of?

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *