Multiple Choice
Denali, Inc. exchanged realty with a $230,000 adjusted basis for like-kind realty with a $200,000 FMV and $5,000 cash. How much loss may Denali recognize?
A) $5,000
B) $25,000
C) $30,000
D) $0
Correct Answer:
Verified
Correct Answer:
Verified
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