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Blue Company sold machinery for $45,000 on December 23, 2022. The machinery had been acquired on April 1, 2020, for $69,000 and its adjusted basis
Blue Company sold machinery for $45,000 on December 23, 2022. The machinery had been acquired on April 1, 2020, for $69,000 and its adjusted basis was $34,200. The § 1231 gain, § 1245 recapture gain...
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