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Exercise 7-25 (Algorithmic) (LO. 4) Determine the treatment of a loss on rental property under the following facts: Basis $804,800 FMV before the loss 965,760

Exercise 7-25 (Algorithmic) (LO. 4) Determine the treatment of a loss on rental property under the following facts: Basis $804,800 FMV before the loss 965,760 FMV after the loss 241,440 The amount of the loss is $ which is

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