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Author Question: Clarise bought a building three years ago for $180,000 to use in her business. The straight-line ... (Read 76 times)

laurencescou

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on: Sep 13, 2020
Clarise bought a building three years ago for $180,000 to use in her business. The straight-line method of depreciation was used and $15,000 of depreciation deductions were allowed. During the current year, Clarise sells the building to her wholly-owned corporation for $235,000. The tax results to Clarise are
◦ $70,000 ordinary income.
◦ $70,000 of Sec. 1231 gain.
◦ $55,000 ordinary income and $15,000 Sec. 1231 gain.
◦ $15,000 of ordinary income and $55,000 Sec. 1231 gain.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by laurencescou on Sep 13, 2020

stillxalice

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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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laurencescou

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

amynguyen1221

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

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