This is for 2018 tax prep for 2017 tax year

24. The office building Donna owned and used for her desk-top publishing business was destroyed by a hurricane. Although the basis of the building was $80,000, Donna carried replacement cost insurance and received $160,000 from the insurance company after it was determined that the building was a complete loss. It cost her $152,000 to rebuild the store in the current year Calculate Donna's recognized gain, if an election under the involuntary conversion provision is made. Calculate Donna's basis in the replacement building