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Taxpayer sells a building, land, and equipment for $2 million. The building had basis of $500,000 and depreciation deductions of $50,000. The land had basis
Taxpayer sells a building, land, and equipment for $2 million. The building had basis of $500,000 and depreciation deductions of $50,000. The land had basis of $250,000. The equipment had basis of $300,000 and depreciation deductions of $250,000. What amount of gain is recaptured as ordinary income? O $250,000 O $50,000 O $300,000 $200,000
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