Business, 18.01.2020 02:31 Carly3393

Mia owns a warehouse that has a cost basis of $80,000. the city condemns the warehouse to make room for a new fire station. it pays $400,000 for the property, its agreed to fair market value. shortly after the condemnation, mia purchases another warehouse as a replacement. if amount is zero, enter". a. what is her recognized gain if the new property cost is $280,000? b. what is the recognized in the new property cost is $444,000? c. what is her recognized gain if the new property cost is $80,000? d. what if any is the justification for deferring the recognition of gain on the involuntary conversion? the involuntary conversion provision is justified under the changed

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Mia owns a warehouse that has a cost basis of $80,000. the city condemns the warehouse to make room...

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