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Sheena Maskell Sheena Maskell
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7 years ago
Eric purchased a building in 1995 that he uses in his business. Eric uses the straight-line method for the building. Eric's original cost for the building is $420,000 and cost-recovery deductions are $200,000. If the building is sold for $480,000, the tax results are
A) $260,000 Sec. 1231 gain.
B) $260,000 unrecaptured Sec. 1250 gain.
C) $200,000 unrecaptured Sec. 1250 gain, $60,000 Sec. 1231 gain.
D) $200,000 Sec. 1245 ordinary income, $60,000 Sec. 1231 gain.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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Yoko900Yoko900
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Sheena M. Author
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#2
7 years ago
I took a chance with your answer

It was right
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