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Anna acquires an apartment building in 2009 for $250,000 and sells it in 2021 for $500,000. At the time of the sale there is $55,000
Anna acquires an apartment building in 2009 for $250,000 and sells it in 2021 for $500,000. At the time of the sale there is $55,000 of accumulated straight line depreciation on the building. Assuming Anna is in the highest tax bracket for ordinary income and the Medicare tax on net investment income applies, how much of her gain is taxed at 28.8%?
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