Question: To find the total gain from involuntary conversion, we subtract $57,000 from $70,000, which equals $13,000. To calculate taxable recognized gain, we subtract $65,000 from

To find the total gain from involuntary conversion, we subtract $57,000 from $70,000, which equals $13,000. To calculate taxable recognized gain, we subtract $65,000 from $70,000, which equals $5,000. To find the deferred gain, we subtract $5,000 from $13,000, which equals $8,000." Have I followed the instructions

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