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ion's basis in investment-use land was $60,000. He received a gross condemnation award of $70,000. His net condemnation award was $68,500. He purchased replacement property
ion's basis in investment-use land was $60,000. He received a gross condemnation award of $70,000. His net condemnation award was $68,500. He purchased replacement property at a cost of $69,500. What is Dion's basis in the replacement property
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Income Tax Planning
Authors: Thomas P. Langdon, E. Vance Grange, Michael A. Dalton
5th Edition
1936602075, 978-1936602070
