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QUESTION
) Greg has a personal residence with an adjusted basis of $50,000 and a FMV of $50,000. Greg's property was condemned by the state for a highway...
1.) Greg has a personal residence with an adjusted basis of $50,000 and a FMV of $50,000. Greg's property was condemned by the state for a highway project and Greg received $45,000 as compensation. What is Greg's deductible loss?
