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Business, 03.01.2020 06:31 dhananjaynagarkar

Abarn with an adjusted basis of $125,000 was destroyed by a tornado on march 5, 2018. on may 15, 2018, the insurance company paid the owner $150,000. the owner reinvested $170,000 in another barn. what is the basis of the new barn if non-recognition of gain from an involuntary conversion is elected?

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Abarn with an adjusted basis of $125,000 was destroyed by a tornado on march 5, 2018. on may 15, 201...
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