Jessica's office bullding is destroyed by fire on November $15,2022.$ The adjusted basis of the bullding is $$410,000.$ She recelves insurance proceeds of $$550,000$ on December $12\mathrm{.}2022$

Required:

a$.$ Calculate her realized and recognized gain or loss for the replacement property if she acquires an office bullding in December $2022$ for $$550,000.$

b$.$ Calculate her realized and recognized gain or loss for the replacement property if she acquires an office bullding in December $2022$ for $$495,000.$

c$.$ What is her basis for the replacement properyy in parss $($d$)$ and $(1)?$

d$.$ Calculate Jessica's realized and recognized gain or loss if she does not invest in replacement property.

Complete the question by entering your answers in the tabs below.

Requ in ard $5$

Rey C sillid D

$3.$ Calculate her realized and recognized gain or loss for the replacement property t she acquines an outice buil ding in Deqember $2022$ for $5550,000$

b$.$ Calculate her reallzed and necognized gain or loss for the neplacement property if she accuines an office tuilding lin December $2022$ for $5495,000$

Sthow teas a

Req A and $B$

Res C and D

c$.$ What is her basis for the replacement property in parts $(a)$ and $(b)?$

d$.$ Calculate Jessica's nealized and necognized gain or loss if she does not invest in replacement property:

Note: If there is no gein or loss is recognized, select $"$No gain or loss".

$\backslash$table$[[$c$.,$Basis of replacement property in part $($a$)],[$c$.,$Basis of replacement property in part $($b$),],[$d$.,,],[$d$.,,]]$