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Rayna bought an apartment building in July 2015 for $367,500 and sold it for $490,500 in 2021 . There was $81,012 of accumulated depreciation allowed
Rayna bought an apartment building in July 2015 for $367,500 and sold it for $490,500 in 2021 . There was $81,012 of accumulated depreciation allowed on the apartment building. If Rayna is in the 35% tax bracket, how much of the gain is taxed at 25% ? Multiple Choice $0 $41,988 $81,012 $123,000
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