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Please show answer step by step with calculation. Thank you Ruth, who files as single, recently sold an apartment building for $220,000 that had an
Please show answer step by step with calculation. Thank you
Ruth, who files as single, recently sold an apartment building for $220,000 that had an adjusted basis of $24,800 (Cost $174,800 Accumulated depreciation $150,000 ). If Ruth's taxable income before considering this gain is $194,000, what is Ruth's tax liability from the sale of the apartment building? Tax liability \$Step by Step Solution
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