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Lisa has owned an apartment building for several years which she purchased for $199,000. Accumulated depreciation as of the date of sale is $25,500,$5,000 of
Lisa has owned an apartment building for several years which she purchased for $199,000. Accumulated depreciation as of the date of sale is $25,500,$5,000 of which was in excess of straight line depreciation. Lisa sold the apartment building for $223,000. How much of the gain is considered ordinary income? Ordinary income $
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