Kristi had a business building destroyed in an earthquake. The old building was purchased for $250,000 and $80,000 of depreciation deductions had been taken. Her insurance proceeds were $550,000. Although the replacement property was much larger and nicer than her old building, Kristi’s new property qualified as replacement property. She acquired the new property 13 months after the earthquake for $620,000. What is the amount of Kristi’s realized gain and recognized gain and the basis in her new property?_x000D_
_x000D_
_x000D_
_x000D_
Place your order now for a similar paper and have exceptional work written by our team of experts to guarantee you A Results_x000D_
_x000D_
 _x000D_
_x000D_
Why Choose US_x000D_
_x000D_
 _x000D_
_x000D_
6+ years experience on custom writing_x000D_
_x000D_
80% Return Client_x000D_
_x000D_
Urgent 2 Hrs Delivery_x000D_
_x000D_
Your Privacy Guaranteed_x000D_
_x000D_
Unlimited Free Revisions_x000D_
_x000D_
Â