54. Jessica's office building is destroyed by fire on November 15,2022 . The adjusted basis...
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54. Jessica's office building is destroyed by fire on November 15,2022 . The adjusted basis of the building is $410,000. She receives insurance proceeds of $550,000 on December 12, 2022. a. Calculate her realized and recognized gain or loss for the replacement property if she acquires an office building in December 2022 for $550,000
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