A business plans to sell its office building which it acquired and placed in service in 1995. Sec. 1250 requires a portion of gain realized on the sale of a building used in a business and depreciated under MACRS to be recaptured as ordinary gain.
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Q50: For noncorporate taxpayers,depreciation recapture is not required
Q51: The amount recaptured as ordinary income under
Q52: When corporate and noncorporate taxpayers sell real
Q1729: What is the purpose of Sec. 1245
Q1731: With respect to residential rental property
A) gain
Q1732: Marta purchased residential rental property for $600,000
Q1735: An unincorporated business sold two warehouses during
Q1737: Network Corporation purchased $200,000 of five- year
Q1738: With regard to noncorporate taxpayers, all of
Q1739: Alejandro purchased a building in 1985, which
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