Involuntary Conversions Involuntary Conversion Defined Includes theft, seizure requIsItion, condemnation or destruction of property Gains arise when Insurance or government proceeds exceed the propertys 个 FREEWAY adjusted basis Us 99 BUSINESS Severance damagesInvoluntary Conversions Involuntary Conversion Defined • Includes theft, seizure, requisition, condemnation, or destruction of property • Gains arise when insurance or government proceeds exceed the property’s adjusted basis • Severance damages