The tax treatment regarding the sale of existing assets which are not depreciable or used in businessand are sold for less than the book value results in
A) a capital gain and recaptured depreciation taxed as ordinary income.
B) recaptured depreciation taxed as ordinary income.
C) a capital loss.
D) an ordinary loss.

Question

Quizplus · Accepted Answer

Since the assets are sold for less than their book value, it results in a capital loss.

The Tax Treatment Regarding the Sale of Existing Assets Which