On november 18, 2018, equipment is stolen from abc manufacturing. abc purchased the equipment for $100,000 and its adjusted basis is $0. the insurance company paid abc $20,000 for its loss on january 6, 2019. how long does abc have to purchase qualified replacement property and how much must it reinvest to avoid recognizing its gain?
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On november 18, 2018, equipment is stolen from abc manufacturing. abc purchased the equipment for $1...
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