A piece of equipment that was originally purchased for $29,400, had accumulated depreciation of $19,150, and was sold for $9,200, would recognize a gain of $1,500. a. True. b. False.
A piece of equipment that was originally purchased for $29,400, had accumulated depreciation of $19,150, and was sold for $9,200, would recognize a gain of $1,500. a. True. b. False.
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter8: Property Transactions: Capital Gains And Losses, Section 1231 And Recapture Provisions
Section: Chapter Questions
Problem 9BCRQ
Related questions
Question
True or False?
Transcribed Image Text:A piece of equipment that was
originally purchased for $29,400, had
accumulated depreciation of $19,150,
and was sold for
$9,200, would
recognize a gain of $1,500.
a. True.
b. False.
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