Business, 29.07.2020 02:01 kaykay9243

Fenwick operates a grocery store and his retail building was completely destroyed by a hurricane on August 22, Year 10. The fair market value of the building before the hurricane was $1,200,000 with an adjusted basis of $800,000. His insurance company reimbursed him $1,200,000 of December 2, Year 10. When is the last date that Fenwick can replace this building with qualifying property and avoid recognizing gain from this transaction. A. December 31, 2013.B. August 22, 2015.C. December 31, 2015.D. December 31, 2016.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 22:20

Which of the following best explains why the demand for housing is more flexible than the supply? a. new housing developments are being constructed all the time. b. low interest rates for mortgages make buying a home very affordable. c. the increasing population always drives demand upwards. d. people can move more easily than producers can build new homes.

Answers: 1

Answer

Business, 22.06.2019 23:30

Which statement best describes the two reactions? abcl, + h2 → 2hci2h + h = he + inreaction a involves a greater change, and reaction b involves a change in element identity.reaction b involves a greater change and a change in element identityreaction a involves a greater change and a change in element identity.reaction b involves a greater change, and reaction a involves a change in element identity.

Answers: 1

Answer

Business, 24.06.2019 01:00

In some areas, entrepreneurs can take advantage of where they can lease low-cost office space and have access to office equipment and answering services. question 5 options: hotel lobbies business incubators coffee shops college libraries.

Answers: 3

Answer

Business, 24.06.2019 01:00

Helen holds 1,000 shares of fizbo inc. stock that she purchased 11 months ago. the stock has done very well and has appreciated $20/share since helen bought the stock. when sold, the stock will be taxed at capital gains rates (the long-term rate is 15 percent and the short-term rate is the taxpayer's marginal tax rate). ignore the time value of money.

Answers: 3

Answer

You know the right answer?

Fenwick operates a grocery store and his retail building was completely destroyed by a hurricane on...

Questions