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What is his realized gain or loss

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Tyler borrowed $3,500 to purchase a machine. He later borrowed $1,500 using the machine as collateral. Both notes are nonrecourse. Ten years later, the machine has an adjusted basis of zero and two outstanding note balances of $2,000 and $600. Tyler sells the machine for $1,000. What is his realized gain or loss?

Reference no: EM131776726

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