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XYZ Company, a calendar year taxpayer, paid $ 6 , 5 0 0 , 0 0 0 for an office building and allocated $ 5
XYZ Company, a calendar year taxpayer, paid $ for an office building and allocated $ of the cost to the land. XYZ place the realty in service on November XYZ has $ taxable income in both Year and Year Compute XYZs adjusted tax basis at the end of year for the office building without the land.
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