Question: What are the maximum postponed gain or loss and the basis for the replacement property for the following involuntary conversions? Type of Amount Adjusted Amount

What are the maximum postponed gain or loss and the basis for the replacement property for the following involuntary conversions?

Type of Amount Adjusted Amount Property Conversion Realized Basis Reinvested Condemned $160,000 $120,000 $100,000 200,000 350,000 17,000 e. Vacant lot (investment ndemned 240,000 160,000 240,000 19,000 26,000 h. Apartments (investment) Condemned 50,000 100,000 200,000 a Drugstore (business) 100,000 b. Apartments (investment) Casualty d Residence (personal) E Residence (personal) 120,000 400,000 300,000 18,000 Grocery store (business) Casualty Casualty 16,000 Casualty Condemned 20,000 18,000 18,000 20,000 g. Residence (personal)

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