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In 2013, Joe sold equipment used in his business for $11,000. The equipment cost $10,000 and Joe had properly claimed MACRS deductions totaling $4,000. Straight-line
In 2013, Joe sold equipment used in his business for $11,000. The equipment cost $10,000 and Joe had properly claimed MACRS deductions totaling $4,000. Straight-line depreciation, if it had been used, would have been $2,500. What is the amount of gain that should be reported under Sections 1231 and 1245?
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South-Western Federal Taxation 2020 Comprehensive
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
43rd Edition
357109147, 978-0357109144
