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Alice owns nonresidential rental real estate which was purchased in 1985. Straight-line depreciation was used on the asset. The property is sold at a $150,000
Alice owns nonresidential rental real estate which was purchased in 1985. Straight-line depreciation was used on the asset. The property is sold at a $150,000 gain this year. The initial characterization of the gain is: The Taxpayer Relief Act of 1997 (changing treatment of the sale of principal residences)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
