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Firm OCS sold business equipment with a $24,000 initial cost basis and $10,915 accumulated tax depreciation. In each of the following cases, compute OCSs recaptured
Firm OCS sold business equipment with a $24,000 initial cost basis and $10,915 accumulated tax depreciation. In each of the following cases, compute OCSs recaptured ordinary income and Section 1231 gain or loss on sale. (Losses should be indicated with a minus sign. Leave no cell blank. Enter "0" for cells that do not have an amount.)
- Amount realized was $10,800.
- Amount realized was $13,800.
- Amount realized was $18,300.
- Amount realized was $27,300.
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