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Helga [31]
3 years ago
7

Stephanie's building, which was used in her business, was destroyed in a fire. Stephanie's adjusted basis in the building was $1

75,000, and its FMV was $210,000. Stephanie filed an insurance claim and was reimbursed $200,000. In that same year, Stephanie invested $180,000 of the insurance proceeds in another business building. Assuming the proper election is made to defer gain, Stephanie's basis in the new building will be

Business
1 answer:
icang [17]3 years ago
5 0

Answer:

$1,75,000

Explanation:

Please see attachment

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Ksivusya [100]

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Centrality

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Explanation:

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