Business, 04.12.2019 01:31 Hrjohnson2004

In the current year, tim sells section 1245 property for $28,000 that he had purchased 6 years ago. tim has claimed $7,000 in depreciation on the property and originally purchased it for $20,000. how much of the gain is taxable as ordinary income?

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In the current year, tim sells section 1245 property for $28,000 that he had purchased 6 years ago....

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