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Vera owns an office building that she leases to tenants. If the building is destroyed by a tornado, is the functional use test or the
Vera owns an office building that she leases to tenants. If the building is destroyed by a tornado, is the functional use test or the taxpayer use test applied as to replacement property? Complete the statements below regarding the test Vera should use and the difference between the two. Because Vera is an rather than an , the applies. As such, Vera's use of the replacement property must be use of
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