An apartment building was acquired in 2014 by an individual taxpayer. The depreciation taken on the building was $283,760, and the building was sold for a $85,128 gain. What is the amount of unrecaptured § 1250 gain? 198,632

An apartment building was acquired in 2014 by an individual taxpayer. The depreciation taken on the building was $283,760, and the building was sold for a $85,128 gain. What is the amount of unrecaptured § 1250 gain? 198,632

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

An apartment building was acquired in 2014 by an individual taxpayer. The depreciation taken on the building was $283,760, and
the building was sold for a $85,128 gain.
What is the amount of unrecaptured § 1250 gain?
198,632

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