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Exercise 7-25 (Algorithmic) (LO. 4) Determine the treatment of a loss on rental property under the following facts: Basis $960,800 FMV before the loss 1,152,960

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Exercise 7-25 (Algorithmic) (LO. 4) Determine the treatment of a loss on rental property under the following facts: Basis $960,800 FMV before the loss 1,152,960 FMV after the loss 288,240 The amount of the loss is $ which is

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