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Moran owns a building he bought during year 0 for $237,000. He sold the building in year 6. During the time he held the

 

Moran owns a building he bought during year 0 for $237,000. He sold the building in year 6. During the time he held the building, he depreciated it by $33,250. What are the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations? Note: Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answers blank. Enter zero if applicable. a. Moran received $214,000. Description Amount Total Gain or (Loss) Recognized $ 10,250 Unrecaptured $1250 gain (and $1231 gain) $ 10,250 Remaining $1231 gain or (loss) $ 0

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