Sams building that was used for business was partially destroyed by a hurricane. There was no insurance
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Sam’s building that was used for business was partially destroyed by a hurricane. There was no insurance for hurricane damage. The building had an adjusted basis of $46,000. The FMV was $90,000 just before the hurricane and $65,000 just after the hurricane. What is the deductible casualty loss?
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Fundamentals Of Taxation 2015
ISBN: 9781259293092
8th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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