I need help with this.Homework Answers
| FMV of real estate acquired | $ 83,000 | |
| Less: Stock Boot (valued af FMV) | $ -34,000 | |
| Less: Real estate (valued at adjusted basis) | $ -23,000 | |
| a | Realized Gain | $ 26,000 |
| Recognized Gain (34000-23000) | $ 11,000 | |
| Recognized Gain : Lessor of Boot or Realized Gain | ||
| b | Basis in Real Estate (34000+23000) | $ 57,000 |
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