LO.7 On June 5, 2019, Brown, Inc., a calendar year taxpayer, receives cash of $750,000 from the county upon condemnation of its warehouse building (adjusted basis of $500,000 and fair market value of...

LO.7 On June 5, 2019, Brown, Inc., a calendar year taxpayer, receives cash of $750,000 from the county upon condemnation of its warehouse building (adjusted basis of $500,000 and fair market value of $750,000).

b. How would your advice to Brown differ if the adjusted basis was $795,000?