Blue Company sold machinery for $45,000 on December 23, 2010. The machinery had been acquired on April
Question:
a. $0 § 1231 gain, $30,800 § 1245 recapture gain, $0 § 1231 loss.
b. $0 § 1231 gain, $0 § 1245 recapture gain, $34,800 § 1231 loss.
c. $4,000 § 1231 gain, $34,800 § 1245 recapture gain, $0 § 1231 loss.
d. $0 § 1231 gain, $34,800 § 1245 recapture gain, $14,200 § 1231 loss.
e. None of the above.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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