What are the recapture rules when an involuntary conversion occurs with nonrecognition of some of the gain?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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Question Posted: Feb 19, 2024 03:55 AM

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When an involuntary conversion occurs and the taxpayer receives insurance proceeds, what must the taxpayer do to guarantee that no gain is recognized?
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What are the recapture rules when an involuntary conversion occurs with nonrecognition of some of the gain?

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In the context of US tax law an involuntary conversion refers to the forced disposition of property often due to events such as theft destruction or c...View the full answer

CCH Federal Taxation Basic Principles 2020

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