On July 11, 2021, Peter's mobile home was totally destroyed in a disaster. The area was designated by the President to be a disaster area. On November 15, 2021, Peter's insurance company reimbursed him $42,000 for the mobile home. If Peter has a gain, when does the replacement period for the mobile home end?

Question

03-12-2022
Business

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On July 11, 2021, Peter's mobile home was totally destroyed in a disaster. The area was designated by the President to be a disaster area. On November 15, 2021, Peter's insurance company reimbursed him $42,000 for the mobile home. If Peter has a gain, when does the replacement period for the mobile home end?

Sagot :

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