Soft,Inc. ,a § 501(c)(3)organization,has been leasing a building to Ice,Inc. ,a taxable entity,for 12 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $350,000.It sells the building to the Realty Partnership,a taxable entity,for $625,000.Selling expenses are $37,500.

Question

Soft,Inc. ,a § 501(c)(3)organization,has been leasing a building to Ice,Inc. ,a taxable entity,for 12 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $350,000.It sells the building to the Realty Partnership,a taxable entity,for $625,000.Selling expenses are $37,500.
Soft,Inc. ,a § 501(c)(3)organization,has been leasing a building to Ice,Inc. ,a taxable entity,for 12 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $350,000.It sells the building to the Realty Partnership,a taxable entity,for $625,000.Selling expenses are $37,500.

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The Answer of Soft,Inc. ,a § 501(c)(3)organization,has been leasing a building to Ice,Inc. ,a taxable entity,for 12 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $350,000.It sells the building to the Realty Partnership,a taxable entity,for $625,000.Selling expenses are $37,500.

Soft,Inc ,A § 501(c)(3)organization,has Been Leasing a Building to Ice,Inc