Question
Jill DeLuca's basis in investment use land was $10000. She received a gross condemnation award of $12500. Her net condemnation award was $11250. She purchased
Jill DeLuca's basis in investment use land was $10000. She received a gross condemnation award of $12500. Her net condemnation award was $11250. She purchased replacement property at a cost of $14000. What is Jill's basis in the replacement property?
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Management And Cost Accounting
Authors: Colin Drury
5th Edition
1861525362, 978-1861525369
