1. Leonard lamberts commercial building which had an adjusted basis of $500,000, was partially destroyed by fire. the fair market value was $800,000 just before the fire and $600,000 immeditately after Leonard received $150,000 insurance proceeds and deducted a $50,000 casualty loss. what is leonard's basis in the building before nay repairs are made?
2.lenn sells 100 shares (basis of $5,000) of x corporation common stock on March 8 2010,
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