alexbiersack5137 alexbiersack5137

27-12-2022
Business

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George has a warehouse buidding worth 1 million dollars with an adjusted basis of $400,000. He wishes to acquire another warehouse building of similar value in another area where trucks could more easily park and load/unload merchandise. In order to avoid currently recognizing gain on the sale of his warehouse, George should: O Sell his bullding for 1 million now, and immediately use the proceeds to buy a new bulding. O Sell his bulking now and buy a new like kind building in the next tax year O Exchange his building for one of like-kind. O Sell his building and put the proceeds in a separate bank account to use the proceeds to purchase a new building in the next tax year.

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