QUESTION

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Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $\$ 126,000$. The appraised fair market value of the warehouse was $\$ 138,750$, and the appraised value of the land was $\$ 163,500$. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Problem 10-45 Part-b b. What would be Bob's basis in the warehouse and in the land if the appraised value of the warehouse was $\$ 113,750$, and the appraised value of the land was $\$ 126,000$ ? \begin{tabular}{|l|l|} \hline & Bob's Basis \\ \hline Warehouse & \\ \hline Land & \\ \hline \end{tabular}

Public Answer

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