When business property is completely destroyed, the loss is equal to the diﬀerence between the fair market value of the property before the event and the fair market value immediately after the event.

Name: When business property is completely destroyed, the loss is equal to the diﬀerence between the fair market value of the property before the event and the fair market value immediately after the event.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

the deductible loss is the adjusted basis of the property.

When Business Property Is Completely Destroyed, the Loss Is Equal