Saba Corp. bought an apartment complex during 2019 for $450,000 ($100,000 for the land, $350,000 for the building)and sold it during 2020 for $460,000 ($120,000 for the land, $340,000 for the building). $7,000 was deducted for CCA in 2019. Determine the tax consequences of the sale for 2020.

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The Answer of Saba Corp. bought an apartment complex during 2019 for $450,000 ($100,000 for the land, $350,000 for the building)and sold it during 2020 for $460,000 ($120,000 for the land, $340,000 for the building). $7,000 was deducted for CCA in 2019. Determine the tax consequences of the sale for 2020.

Saba Corp Bought an Apartment Complex During 2019 for $450,000 ($100,000