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What is Tab realized gain or loss

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Problem - Tab exchanges real estate used in his business along with stock for real estate to be held for investment. The stock transferred has an adjusted basis of $45,000 and a fair market value of $50,000. The real estate transferred has an adjusted basis of $85,000 and a fair market value of $190,000. The real estate acquired has a fair market value of $240,000.

Required -

a. What is Tab's realized gain or loss?

b. His recognized gain or loss?

c. The basis of the newly acquired real estate?

Reference no: EM132659971

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