iamthepantaloon1481 iamthepantaloon1481

03-01-2023
Business

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dave owns an office building that has a fair market value of $450,000 and an adjusted basis of $280,000. through an exchange, he acquires a fourplex from frances that has a fair market value of $485,000 and an adjusted basis of $350,000. in the exchange, dave pays frances $35,000. what is dave's substitute basis in the acquired property? a) $280,000 b) $315,000 c) $450,000 d) $485,000

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