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What is this individual recognized gain on the transaction

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Question - An individual exchanged land held for investment in Nevada for land in Oregon in a like-kind exchange the individuals Nevada land had a fair market value of 290,000 and an adjust basis of 230,000.

The individual received the Oregon land with an fmv of 210,000 and 80,000 cash.

What is this individual's recognized gain on the transaction?

A. 0

B. 60,000

C. 80,000

D. 140,000

Reference no: EM133166248

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