Vivien owned an office building that had been held more than one year when it was sold for $67,000.The real estate had an adjusted basis of $5,000 for the land and $33,000 for the building.Straight-line depreciation of $62,000 had been taken on the building.What is the amount and initial character of the gain or loss from disposition of the real estate? Is any of the gain unrecaptured § 1250 (25%)gain?

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The Answer of Vivien owned an office building that had been held more than one year when it was sold for $67,000.The real estate had an adjusted basis of $5,000 for the land and $33,000 for the building.Straight-line depreciation of $62,000 had been taken on the building.What is the amount and initial character of the gain or loss from disposition of the real estate? Is any of the gain unrecaptured § 1250 (25%)gain?

Vivien Owned an Office Building That Had Been Held More