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Nadia Shalom Has The Following Transactions During The Year: Sale Of Office Equipment On March 15 that cost $19,000 when purchased on July 1, 2016.
Nadia Shalom Has The Following Transactions During The Year:
Sale Of Office Equipment On March 15 that cost $19,000 when purchased on July 1, 2016. Nadia has claimed $3,000 in depreciation and sells the asset for $13,000 with no selling costs. Sale of land on April 19 for $124,000. The land cost $132,000 when purchased on February 1, 2007. Nadias selling costs are $6,000.
Assume there were no capital improvements on either business asset sold. Nadias Social Security number is 924-56-5783. Complete Form 4797 to report the above gains or losses.
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