I have completed some of them but I am unsure if I am doing it correctly, any he

Question

I have completed some of them but I am unsure if I am doing it correctly, any help would be greatly appreciated.

1. You transfer land with a basis of $20,000 and cash of $6,000 and receive a building with a fair market                                                                                                                                                                                                                    value of $35,000.

How much is realized gain? ___9,000___How much is recognized gain? ___9,000___basis of the building? $11,000

How much is your realized gain? _____$2,000_________________

How much is your recognized gain? _____$10,000_______________

What is the basis of the building? ______(43,000-10,000+2,000)= $35,000______________

How much is your realized gain? ______38,000________________

How much is your recognized gain? ____13,000________________

            What is the basis of the building? ____25,000________________

Explanation / Answer

plz repeat

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