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Determine que basis in land recevied

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Reference no: EM132648477

Problem 1: Que buys the land for $16,000 and signs a mortgage for $4,000. Later Que swaps the land for new land worth $30,000 that is subject to a $3,000 mortgage. Show the formula used to determine Que's basis in the land received

Reference no: EM132648477

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