A hurricane damages your roadside vegetable stand. You claim a deductible loss of $15,000. Insurance paid $10,000. You repair the damage at a cost of $15,000. You add an extra 400 square feet of space at a cost of $12,000. What is the adjusted basis if the basis of the vegetable stand was $80,000 prior to the hurricane?
Hi
Let me know in case you face any issue:
Get Answers For Free
Most questions answered within 1 hours.