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The business receives insurance proceeds of 600000 and

A business has an adjusted basis of $400,000 in a building that was destroyed by a fire. The business receives insurance proceeds of $600,000 and reinvests $750,000 in a new building (qualifying property) within the replacement period. What is the basis in their new building?

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Business Management: The business receives insurance proceeds of 600000 and

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Business Management: The business receives insurance proceeds of 600000 and

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