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Firm UT sold realty to an unrelated buyer for $40,000 cash plus the buyers assumption of a $166,700 mortgage on the property. UTs initial cost
Firm UT sold realty to an unrelated buyer for $40,000 cash plus the buyers assumption of a $166,700 mortgage on the property. UTs initial cost basis in the realty was $235,000, and accumulated tax depreciation through date of sale was $184,200
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