ACCT340-4013/ In a 1031 exchange Winston White exchanged business real estate that had an adjusted basis of $16,000 and a FMV of $22,000 for other business real estate with a fair market value of $19,000. No boot was exchanged. What is Winston's basis in the property received? O $22,000 O $0 O $16,000 O $19,000

ACCT340-4013/ In a 1031 exchange Winston White exchanged business real estate that had an adjusted basis of $16,000 and a FMV of $22,000 for other business real estate with a fair market value of $19,000. No boot was exchanged. What is Winston's basis in the property received? O $22,000 O $0 O $16,000 O $19,000

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter8: Depreciation And Sale Of Business Property

Section: Chapter Questions

Problem 19MCQ

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