An unincorporated business sold two warehouses during the current year. The straight- line depreciation metho was used for Building No. 1 and the accelerated method (ACRS) was used for Building No. 2. Information about buildings is presented below. How much gain from these sales should be reported as Sec. 1231 gain and ordinary income due to depreciation recapture?

Question

An unincorporated business sold two warehouses during the current year. The straight- line depreciation metho was used for Building No. 1 and the accelerated method (ACRS) was used for Building No. 2. Information about buildings is presented below.  How much gain from these sales should be reported as Sec. 1231 gain and ordinary income due to depreciation recapture?

Quizplus · Accepted Answer

The Answer of An unincorporated business sold two warehouses during the current year. The straight- line depreciation metho was used for Building No. 1 and the accelerated method (ACRS) was used for Building No. 2. Information about buildings is presented below.  How much gain from these sales should be reported as Sec. 1231 gain and ordinary income due to depreciation recapture?

An Unincorporated Business Sold Two Warehouses During the Current Year