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Business, 25.06.2019 21:00 kyriejr

Alice owns land with an adjusted basis of $610,000, subject to a mortgage of $350,000. real estate taxes are $9,000 per calendar year and are payable on december 31. on april 1, 2014, alice sells her land subject to the mortgage for $650,000 in cash, a note for $600,000, and property with a fair market value of $120,000. what is the amount realized?

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Alice owns land with an adjusted basis of $610,000, subject to a mortgage of $350,000. real estate t...
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