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Remi operates a C corporation. This year, the business sold two assets. A machine - the sale generated $4,000 in depreciation recapture and a $12,000
Remi operates a C corporation. This year, the business sold two assets. A machine - the sale generated $4,000 in depreciation recapture and a $12,000 1231 gain. Land used in business; held for more than one year the sale generated a $14,000 1231 loss. What is the net effect of these transactions on Remi Corporations taxable income for the year?
A. $2,000 decrease
B. $16,000 increase
C. $2,000 increase
D. $4,000 increase
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