Question: Jason owns a toy factory with an adjusted basis of $ 3 0 0 , 0 0 0 . In 2 0 1 8 his

Jason owns a toy factory with an adjusted basis of $300,000. In 2018 his factory is destroyed by a fire. Jason recoeves $350,000.00 in insurance proceeds jason uses $320,000 of those proceeds to pirchase a new factory. If jason makes a valid section 1033 electuon, how much gain will he recognize

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