Ron's Building,which Was Used in His Business,was Destroyed in a Fire.Ron's

question 1

Multiple Choice

Ron's building,which was used in his business,was destroyed in a fire.Ron's adjusted basis in the building was $210,000,and its FMV was $330,000.Ron filed an insurance claim and was reimbursed $300,000.In that same year,Ron invested $240,000 of the insurance proceeds in another business building.Ron will recognize gain of

• A)$0.
• B)$30,000.
• C)$60,000.
• D)$90,000.

---

Definitions:

Fluoxetine

A psychiatric medication used to treat major depressive disorder, bulimia nervosa, obsessive-compulsive disorder, panic disorder, and premenstrual dysphoric disorder.

Poisonous Snake

A snake species that produces venom harmful to humans and animals.

Vital Signs

Basic physiological measurements taken to assess the most essential bodily functions, typically including temperature, pulse, respiration rate, and blood pressure.

Blood Pressure

The force exerted by circulating blood upon the walls of blood vessels, usually measured in the arteries.