What is annies realized gain

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Reference no: EM133611282

Assignment:

Annie exchanges land (Whiteacre) for other land (Blackacre) and $10,000 cash. The FMV of Whiteacre is $100,000 and her adjusted basis in the property is $50,000. The FMV of Blackacre is $90,000. Annie used Whiteacre in her trade or business and intends to also use Blackacre in her trade or business. What is Annie's realized gain?

Reference no: EM133611282

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