What is the basis of the new property in each #4070

What is the basis of the new property in each of the following exchanges?

a. Apartment building held for investment (adjusted basis of $145,000) for office building to be
held for investment (fair market value of $225,000).

b. Land and building used as a barbershop (adjusted basis of $190,000) for land and building
used as a grocery store (fair market value of $350,000).

c. Office building (adjusted basis of $45,000) for bulldozer (fair market value of $42,000), both
held for business use.

d. IBM common stock (adjusted basis of $20,000) for ExxonMobil common stock (fair market
value of $28,000).

e. Rental house (adjusted basis of $90,000) for mountain cabin to be held for personal use (fair
market value of $225,000).

f. General partnership interest (adjusted basis of $400,000) for a limited partnership interest (fair
market value of $580,000).

ANSWER
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