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What would be the taxable gain (loss) on a property given the following information? Sale price $5,500,000 repairs & Maintenance $5,000 Brokers Commission 6% Depreciation
What would be the taxable gain (loss) on a property given the following information?
Sale price $5,500,000
repairs & Maintenance $5,000
Brokers Commission 6%
Depreciation $1,000,000
Utilities 3,500
Original purchase price $4,000,000
Cost of a new roof 350,000
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