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what is the answer to this? 1. Nathan purchased a machine for $100,000 for use in his business. He has deducted MACRS cost recovery (depreciation)
what is the answer to this?
1. Nathan purchased a machine for $100,000 for use in his business. He has deducted MACRS cost recovery (depreciation) of $40,000. Someone offers to buy this machine. On November 15, 2022 the buyer paid him $150,000 in cash. Nice! Nathan also purchased stock on March 1, 2022, for $100,000. At December 31, 2022, it was worth $190,000. He also purchased a bond on September 1, 2021, for $50,000. At year end 12/31/22, it was worth $25,000. Bo0000! How much is Nathan's recognized gain or loss for tax purposes during 2022 on A. the sale of the machine? B. the stock? C. the bond Step by Step Solution
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