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In 2021, Dan Dunne sold a business machine for $75,000. He had purchased the machine in 2012 for $90,000 and had taken a total of
In 2021, Dan Dunne sold a business machine for $75,000. He had purchased the machine in 2012 for $90,000 and had taken a total of $63,000 of depreciation prior to the sale. What is Dan's realized and recognized gain on the sale? How much of the recognized gain is treated as ordinary income? How much of the recognized gain is treated as capital gain income
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