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Leonard Lambert's commercial building, which had an adjusted basis of $ 5 0 0 , 0 0 0 , was partially destroyed by fire. The

Leonard Lambert's commercial building, which had an adjusted basis of $

500, 000,

was partially destroyed by fire. The fair market value was $

800, 000

just before the fire and $

600, 000

immediately after. Leonard received $

150, 000

from insurance. What is Leonard's casualty loss?

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