If business property is completely destroyed,the casualty or theft loss is the lesser of the decrease in market value or the adjusted basis of the property.

Name: If business property is completely destroyed,the casualty or theft loss is the lesser of the decrease in market value or the adjusted basis of the property.
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Question

​If business property is completely destroyed,the casualty or theft loss is the lesser of the decrease in market value or the adjusted basis of the property.

Quizplus · Accepted Answer

If business property is completely destroyed, the casualty or theft loss is the adjusted basis of the property, not the decrease in market value.

​If Business Property Is Completely Destroyed,the Casualty or Theft Loss

If Business Property Is Completely Destroyed,the Casualty or Theft Loss