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Travis purchase machinery on march 1 2018 for 35000 he used the machinery 100% in is small business until October 15 2021 when he sold
Travis purchase machinery on march 1 2018 for 35000 he used the machinery 100% in is small business until October 15 2021 when he sold it. he properly took 22000 of depreciation expenses for the tax year 2018 through 2021. identify the amount and character of recognized gain/loss for this practical transaction
Question: if sold for cast of 18,000
A. The amount of ordinary income recapture us (5000) loss
B. After considering recapture, the amount of remaining section 1231 gain or loss (to go to the bucket) is 4000 gain
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