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What is marks recognized gain or loss on this exchange

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Question - Mark owns an apartment building that has an adjusted basis of $1,100,000. He exchanges it with Mary who has an office building with a fair market value of $1,300,000. The apartment building has 5 stories and 40 units. The office building is 3 strories and 7 units. What is Mark's recognized gain or loss on this exchange?

Reference no: EM132547815

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