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What is the recognized gain or loss

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Question - Mateo exchanges a rental house at the beach with an adjusted basis of $225,000 and a fair market value of $200,000 for a rental house at the mountains with a fair market value of $180,000 and cash of $20,000. What is the recognized gain or loss?

a. $0

b. $20,000

c. ($25,000)

d. ($20,000)

Reference no: EM132770113

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