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Augustus1 Augustus1
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7 years ago
Ross purchased a building in 1985, which he uses in his manufacturing business. Ross uses the ACRS statutory rates to determine the cost-recovery deduction for the building. Ross's original cost for the building is $500,000 and cost-recovery deductions allowed are $350,000. If the building is sold for $490,000, the tax results to Ross are
A) $340,000 LTCG.
B) $340,000 Sec. 1231 gain.
C) $340,000 Sec. 1245 ordinary income.
D) $340,000 Sec. 1250 ordinary income.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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Augustus1 Author
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#2
7 years ago
I needed this so bad, I'm laughing right now from happiness
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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