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Business, 30.11.2019 05:31 kevinhoyle2021

Alice owns land with an adjusted basis of $610,000 subject to a mortgage of $350,000. on april 1, 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. on april 1, al...
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