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TAX FORM/RETURN PREPARATION PROBLEM Short Tax Form. Barbara B. Kuhn (SSN 987-65-4321) purchases a fourplex on January 8, 2016, for $175,000. She allocates $25,000 of
TAX FORM/RETURN PREPARATION PROBLEM Short Tax Form. Barbara B. Kuhn (SSN 987-65-4321) purchases a fourplex on January 8, 2016, for $175,000. She allocates $25,000 of the cost to the land, and she deducts MACRS depreciation totaling $1,364. Barbara sells the fourplex on January 6, 2019, for $225,000. The buyer assumes the existing mortgage of $180,000, pays $15,000 down, and agrees to pay $15,000 per year for two years plus 12% interest. Barbara incurs selling expenses of $18,000. Complete Form 6252
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