Question
a office building used in the business of sole proprietor is sold on March 10, 2016, for 342,000. The building was acquired in 2006 for
a office building used in the business of sole proprietor is sold on March 10, 2016, for 342,000. The building was acquired in 2006 for 400,000 and straigh line depreciation of 104,000 had been taken on the building. What is the amount of unrecaptured Sectio 1250 gain from the disposition of this building?
400,000
58,000
104,000
46,000
None of the above
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Financial Accounting Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
1111464936, 978-1111464936
