Question
Brenda purchased equipment for $300,000 to be used in her business. After keeping the property for 2 years, Brenda sells the property for $295,000. The
Brenda purchased equipment for $300,000 to be used in her business. After keeping the property for 2 years, Brenda sells the property for $295,000. The total depreciation taken as of the date of sale is $65,000. What is the amount to be recaptured as ordinary income under Section 1245?
a. $0. b. $65,000. c. $40,000. d. $60,000
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International Fraud Handbook
Authors: Joseph T. Wells
1st Edition
1118728505, 9781118728505
