Ron's building,which was used in his business,was destroyed in a fire.Ron's adjusted basis in the building was $210,000,and its FMV was $330,000.Ron filed an insurance claim and was reimbursed $300,000.In that same year,Ron invested $240,000 of the insurance proceeds in another business building.Ron's basis in the new building is
A)$180,000.
B)$210,000.
C)$240,000.
D)$330,000.

Question

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The Answer of Ron's building,which was used in his business,was destroyed in a fire.Ron's adjusted basis in the building was $210,000,and its FMV was $330,000.Ron filed an insurance claim and was reimbursed $300,000.In that same year,Ron invested $240,000 of the insurance proceeds in another business building.Ron's basis in the new building is
A)$180,000.
B)$210,000.
C)$240,000.
D)$330,000.

Ron's Building,which Was Used in His Business,was Destroyed in a Fire.Ron's