On January 1, 1985, Ivan Innkeeper purchased an office building for $ 900 , 000 $ 900 , 000 He used the ACRS statutory (accelerated) depreciation method and took $ 900 , 000 $ 900 , 000 depreciation before he sold the building for $ 950 , 000 $ 950 , 000 on January 1,2018 Straight line depreciation...

Determining Ivan Innkeepers Income a Using ACRS Depreciation Method 1 Calculate Gain Selling price 9 ...

On January 1, 1985, Ivan Innkeeper purchased an office building for $ 900 , 000 $ 900

Question:

On January 1, 1985, Ivan Innkeeper purchased an office building for $$ 900, 000$ . He used the ACRS statutory (accelerated) depreciation method and took $$ 900, 000$ depreciation before he sold the building for $$ 950, 000$ on January 1,2018 . Straight-line depreciation would have been $$ 900, 000$ .