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Calculate adams recognized gain

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Alex and Adam exchange business machines. Alex exchanges a business use machine with an adjusted basis of $47,000 and a fair market value of $55,000 for Adam's business use machine with a fair market value of $51,000 and an adjusted basis of $25,000. Adam also gives Alex $4,000 cash to equalize the transaction. Calculate Adam's realized gain (loss). Calculate Adam's recognized gain (loss)

Reference no: EM131788932

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