Top Posters
Since Sunday
w
3
w
3
e
3
3
r
3
g
2
2
b
2
M
2
V
2
f
2
c
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
Augustus1 Augustus1
wrote...
Go to Answer
Posts: 1894
Rep: 1 0
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
Authors:
Read 207 times
2 Replies
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
Replies
Answer verified by a subject expert
Yoko900Yoko900
wrote...
#1
Top Poster
Posts: 1876
Rep: 52 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Augustus1 Author
wrote...
#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
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  3475 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 263
  
 330
  
 1031
Your Opinion
Who will win the 2024 president election?
Votes: 119
Closes: November 4
Previous poll results: Which of the following is the best resource to supplement your studies: