Juan Owned a Small Rental Property, Which Was Condemned by the County

question 47

Multiple Choice

Juan owned a small rental property, which was condemned by the county to expand a local park.His adjusted basis in the property was $40,000 and he received a payment of $75,000 from the county.A year later he purchased a similar piece of real estate for $70,000.What is Juan's basis in the replacement property?

• A)$40,000
• B)$45,000
• C)$50,000
• D)$70,000

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Definitions:

Technological Competence

The ability to use technology effectively and efficiently in order to achieve specific goals or solve problems.

Interconnectedness

The state or condition of being connected or interrelated, often used to describe the complex relationships between different entities or parts within a system.

Nursing Research

The systematic investigation into and study of materials, sources, and methods for the purpose of developing nursing knowledge, improving patient care, and advancing the profession.

Physiological

Physiological pertains to the functions and processes that occur within living organisms, especially those affecting biological systems.