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What is the amount of tamara long term capital gain

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Question - Tamara owns a non-depreciable capital asset she has held for investment. She purchased the asset for $240,000 six years ago, and it is now subject to a $74,000 liability. During the current year, Tamara sells the asset to Leon in exchange for $93,000 cash and a new automobile with a fair market value of $51,000 to be used by Tamara for personal use. Leon assumes the $74,000 liability. What is the amount of Tamara's Long Term Capital Gain (LTCG) or her Long Term Capital Loss (LTCL) on this sale?

A) $166,000 LTCG

B) ($73,000) LTCL

C) $218,000 LTCG

D) ($22,000) LTCL

Reference no: EM132019806

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