Examlex
Dennis, a calendar year taxpayer, owns a warehouse (adjusted basis of $190,000) which is destroyed by a tornado in October 2018. He receives insurance proceeds of $250,000 in January 2019. If before 2021, Dennis replaces the warehouse with another warehouse costing at least $250,000, he can elect to postpone the recognition of any realized gain.
Home Heating Oil
A petroleum-derived fuel oil used in furnaces or boilers for heating residential and commercial buildings.
Contingency Planning
Plans that allow a firm to resume operations as quickly and as smoothly as possible after a crisis while openly communicating with the public about what happened.
3G Services
The third generation of mobile telecommunications technology, offering improved data transfer rates over previous generations.
4G Services
4G services are the fourth generation of mobile telecommunications technology, offering higher speed internet and data communication than its predecessor, 3G.
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