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Sam's office building with an adjusted basis of $750,000 and a fair market value of $900,000 is condemned on November 30,2015.Sam is a calendar year taxpayer.He receives a condemnation award of $875,000 on March 1,2016.He builds a new office building at a cost of $845,000 which is completed and paid for on December 31,2018.What is Sam's recognized gain on receipt of the condemnation award and basis for the new office building assuming his objective is to minimize gain recognition?
Irrigate
To wash out a body part, such as a wound or organ, with a stream of fluid.
Parkinson's Disease
A neurodegenerative disorder characterized by tremors, stiffness, slowness of movement, and balance problems, due to a loss of dopamine-producing brain cells.
Impaired Kinesthesia
A reduced or lost sense of movement or position of body parts, affecting coordination and balance.
Xerostomia
Xerostomia, commonly known as dry mouth, is a condition characterized by a decreased production of saliva, leading to dryness in the mouth.
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