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Business, 12.08.2020 07:01 ashleyrover11

In 2019, Tim sells Section 1245 property for $28,000 that he had purchased in 2009. Tim has claimed $5,000 in depreciation on the property and originally purchased it for $15,000. How much of the gain is taxable as ordinary income?

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In 2019, Tim sells Section 1245 property for $28,000 that he had purchased in 2009. Tim has claimed...
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