Residential real estate was purchased in 2008 for $145,000,held as rental property,and depreciated straight-line.Assume the land cost was $45,000 and the building cost was $100,000.Depreciation totaled $4,089.The building and land were sold on June 10,2011,for $383,000 total.What is the tax status of the property,the nature of the gain from the disposition,and is any of it § 1250 depreciation recapture gain or unrecaptured § 1250 gain?

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The Answer of Residential real estate was purchased in 2008 for $145,000,held as rental property,and depreciated straight-line.Assume the land cost was $45,000 and the building cost was $100,000.Depreciation totaled $4,089.The building and land were sold on June 10,2011,for $383,000 total.What is the tax status of the property,the nature of the gain from the disposition,and is any of it § 1250 depreciation recapture gain or unrecaptured § 1250 gain?

Residential Real Estate Was Purchased in 2008 for $145,000,held as Rental