# N's office building with an adjusted basis of $750,000and a fair market value of$900,000 is...

###### Question:

n's office building with an adjusted basis of $750,000and a fair market value of$900,000 is condemned on 8. Sam is a calendar year taxpayer. He receives a condemnation award of $875,000 on March 1, Whe, s a new office building at a cost of$845,000 which is completed and paid for on December 31, 2021. of the condemnation award and basis for the new office building assuming What is Sam's recognized gain on receipt his objective is to minimize a. $O;$720,000. gain recognition? b. $30,000,$750,000 c. $30,000;$845,000. d. $150,000;$750,000 e. None of the above.

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