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Not sure if gain or loss and what goes into the boxes. Problem 13-84 (LO. 7) Edith's warehouse (adjusted basis of $450,000) is destroyed by

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Not sure if gain or loss and what goes into the boxes.

Problem 13-84 (LO. 7) Edith's warehouse (adjusted basis of $450,000) is destroyed by a hurricane in October 2019. Edith, a calendar year taxpayer, receives insurance proceeds of $525,000 in January 2020. Calculate Edith's realized gain or loss, recognized gain or loss, and basis for the replacement property under each of the following conditions. If an amount is zero, enter "o". a. She acquires a new warehouse for $550,000 in January 2020. The realized gain is $ The recognized gain is $ Edith's basis for the replacement warehouse building is $ b. She acquires a new warehouse for $500,000 in January 2020. The realized gain is $ The recognized gain is $ Edith's basis for the replacement office building is $ C. Assume she does not acquire replacement property. The realized gain is $ . The recognized gain is $

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