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Problem 14-79 (LO. 8, 10) On January 1, 2008, Stephanie Bridges acquired depreciable real property for $50,000. She used straight-line depreciation to compute the asset's
Problem 14-79 (LO. 8, 10) On January 1, 2008, Stephanie Bridges acquired depreciable real property for $50,000. She used straight-line depreciation to compute the asset's cost recovery. The asset was sold for $96,000 on January 3, 2017, when its adjusted basis was $38,000 a. Assuming the property is residential real property, there is a 1231 gain of $ 58,000, of which treated as unrecaptured 1250 gain
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