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On December 31, 2023, Hambo Incorporated sold a computer for $1,895. Hambo Incorporated originally purchased the computer on March 23, 2021 for $520 and had
On December 31, 2023, Hambo Incorporated sold a computer for $1,895. Hambo Incorporated originally purchased the computer on March 23, 2021 for $520 and had taken $218 of depreciation on the furniture up to the date of sale. How much of the gain on the sale of the computer, if any, will be considered ordinary income because of Section 1245 depreciation recapture? [Enter the amount in the box below, without any $ sign before the number]. [If you believe the answer is none, put 0 in the box below]
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