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Author Question: In 1980, Mr. Lyle purchased a factory building to use in business for $480,000. When Mr. Lyle sells ... (Read 80 times)

ap345

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on: Sep 13, 2020
In 1980, Mr. Lyle purchased a factory building to use in business for $480,000. When Mr. Lyle sells 
the building for $580,000, he has taken depreciation of $470,000. Straight-line depreciation would have been $400,000.  Mr. Lyle must report
◦ $570,000 of ordinary gain.
◦ $570,000 of Sec. 1231 gain.
◦ $70,000 of ordinary income and $500,000 of Sec. 1231 gain.
◦ $470,000 of ordinary gain and $100,000 of Sec. 1231 gain.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by ap345 on Sep 13, 2020

mochi09

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ap345

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

raili21

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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