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In 2022, Tolliver's house burned down due to a Presidentially declared natural disaster and all contents were lost. Tolliver received $350,000, although the house was

In 2022, Tolliver's house burned down due to a Presidentially declared natural disaster and all contents were lost. Tolliver received $350,000, although the house was worth only $125,000 and the contents were worth another $125,000. Tolliver will have to include the difference in gross income. True False

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