Chauvin Housing Corporat ion operates primarily in the
United States and owns a large houseboat that can provide sleeping accommodat
ions for as many as ninety ind ividuals. Chauvin is considering a possible
exchange of its houseboat, with an adjusted basis of $3,000,000, for a new
houseboat with a FMV of $7,000,000. Chauv in will also need to pay $1,200,000
cash . Chauvin is considering the possible relocation of the houseboat to
Finland . What tax issues should Chauvin consider?
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