Anthony owned a duplex he held for rental On May 7, 2020 the duplex was condemned by the county for a new highway intersection The details related to the property are as follows Land Building Furnishings Settlement 112,500 Original basis to Anthony 32,000 35,000 9,000 Depreciation allowed 0 19,500 6,060 Anthony reinvested $140,000 in another rental property on July 7, 2021 How much is Anthonys gain realized, gain recognized, and basis in the new property

Question: Anthony owned a duplex he held for rental. On May 7, 2020 the duplex was condemned by the county for a new highway intersection. The

Anthony owned a duplex he held for rental. On May 7, 2020 the duplex was condemned by the county for a new highway intersection. The details related to the property are as follows:

	Land	Building	Furnishings
Settlement 112,500
Original basis to Anthony	32,000	35,000	9,000
Depreciation allowed	0	19,500	6,060

Anthony reinvested $140,000 in another rental property on July 7, 2021. How much is Anthony’s gain realized, gain recognized, and basis in the new property.

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