Stephanie's Building,which Was Used in Her Business,was Destroyed in a Fire.Stephanie's

question 30

Multiple Choice

Stephanie's building,which was used in her business,was destroyed in a fire.Stephanie's adjusted basis in the building was $175,000,and its FMV was $210,000.Stephanie filed an insurance claim and was reimbursed $200,000.In that same year,Stephanie invested $180,000 of the insurance proceeds in another business building.Assuming the proper election is made to defer gain,Stephanie's basis in the new building will be

• A)$175,000.
• B)$180,000.
• C)$200,000.
• D)$210,000.

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Definitions:

Sample

A subset of the larger research population.

Population

The total number of individuals occupying an area or making up a whole, often analyzed in terms of size, density, and distribution.

Survey

A research method in which respondents answer pre-set questions.

Qualitative Studies

Research methods focusing on descriptive, in-depth analysis of social phenomena, often through interviews, observation, and text analysis.