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A retail building used in the trucking business of a sole proprietor is sold on February 10, 2018 for $2,000,000. Accelerated depreciation of $800,000 had
A retail building used in the trucking business of a sole proprietor is sold on February 10, 2018 for $2,000,000. Accelerated depreciation of $800,000 had been taken on the building and it had been acquired in 1986 for $800,000. Straight-line depreciation for the same holding period would have been $800,000. What is the maximum unrecaptured 1250 gain from this disposition after considering depreciation recapture?
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None of the above.
$0
$800,000
$2,000,000
$1,200,000
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