Soft,Inc.,a § 501(c)(3)organization,has been leasing a building to Polar,Inc.,a taxable entity,for 15 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $400,000.It sells the building to the Development Partnership,a taxable entity,for $600,000.Selling expenses are $25,000.

Question

Soft,Inc.,a § 501(c)(3)organization,has been leasing a building to Polar,Inc.,a taxable entity,for 15 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $400,000.It sells the building to the Development Partnership,a taxable entity,for $600,000.Selling expenses are $25,000.
Soft,Inc.,a § 501(c)(3)organization,has been leasing a building to Polar,Inc.,a taxable entity,for 15 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $400,000.It sells the building to the Development Partnership,a taxable entity,for $600,000.Selling expenses are $25,000.

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The Answer of Soft,Inc.,a § 501(c)(3)organization,has been leasing a building to Polar,Inc.,a taxable entity,for 15 years.The lease terminates in the current tax year.Soft's adjusted basis for the building is $400,000.It sells the building to the Development Partnership,a taxable entity,for $600,000.Selling expenses are $25,000.

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