8&9

Your business bought building for $100,000 and has claimed $80,000 in depreciation and now sells it for $60,000. What is the gain situation? a. $60,000 of $1245 gain b. $60,000 of $1250 gain c. $40,000 of $1245 gain d. $60,000 of capital gain e. $40,000 of $1250 gain The sales tax deduction on itemized deductions can be determined by which of the following: (multiple answers possible) a. - hiring an accountant to pull sales taxes out of all your receipts b. a sales tax calculator provided on the IRS website c. none of the above d. actual receipts e. sales tax tables provided by IRS