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QUESTION
Kal Fein owns investment land that he bought for $100,000. He trades it for another parcel of land worth $100,000 plus a painting worth $100,000.
Kal Fein owns investment land that he bought for $100,000. He trades it for another parcel of land worth $100,000 plus a painting worth $100,000. How much gain does Kal recognize as a result of this transaction?
