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Augustus1 Augustus1
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Posts: 1894
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7 years ago
The building used in Manuel's business was condemned by the city of Mobile. Manuel received a condemnation award of $220,000. He paid $800 in lawyer's fees and $600 for an appraisal of the property. Manuel's adjusted basis in the building was $120,000. Manuel reinvests in similar property costing $200,000, and Manuel makes the proper election regarding the property.  Manuel's basis in the new building is
A) $102,400.
B) $121,400.
C) $120,000.
D) $200,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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7 years ago
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Augustus1 Author
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#2
7 years ago
You're a saint, honestly

Thank you
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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