QUESTION 46 1. A sole proprietor owned an office building with a cost of $300,000 and accumulated depreciation of $40,000, using modified accelerated cost recovery system (MACRS) straight-line depreciation. In the current year, she sold the building for $320,000. What is the unrecaptured Section 1250 gain from this sale, if any? $40,000 $0 $20,000 C$60,000 QUESTION 47 1 The result of depreciation recapture on the sale of a depreciable property is Ordinary income Capital gain. Section 1231 gain No gain or loss QUESTION 48 1. Which of the following is least likely to happen when a depreciable asset is sold at a gain? Section 1250 deprecation recapture. Section 1245 depreciation recapture. Unrecaptured Section 1250 gain. Section 1231 gain