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Business, 30.04.2021 17:50 Damagingawsomeness2

Alyssa's personal residence (adjusted basis of $100,000) was condemned, and she received a condemnation award of $80,000. Alyssa used the condemnation proceeds to purchase a new residence for $90,000. What is Alyssa's recognized gain or loss and her basis in the new residence

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