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Donna owns an office building placed in service in 1980 that cost $450,000 and has an adjusted basis of $161,000. If the straight-line method of
Donna owns an office building placed in service in 1980 that cost $450,000 and has an adjusted basis of $161,000. If the straight-line method of depreciation were used, the adjusted basis would be $216,000. Read the requirements. Requirement a. What is the maximum selling price that she could sell the building for without having to recognize Sec. 1250 ordinary income? The maximum selling price that Donna could sell the building for is Requirements a. What is the maximum selling price that she could sell the building for without having to recognize Sec. 1250 ordinary income? b. If she sold the building and had to recognize $52,000 of Sec. 1250 ordinary income, what was the selling price? Print Done
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