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Business, 16.03.2020 19:21 emiliabueno38

In the current year, Tim sells Section 1245 property for $28,000 that he had purchased 6 years ago. Tim has claimed $7,000 in depreciation on the property and originally purchased it for $20,000. How much of the gain is taxable as ordinary income?

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In the current year, Tim sells Section 1245 property for $28,000 that he had purchased 6 years ago....
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