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

Question

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

An Unincorporated Business Sold Two Warehouses During the Current Year