Question

EzTech, a calendar year accrual basis corporation, generated $994,300 ordinary income from its business this year. It also sold the following assets, all of which were held for more than 12 months.
EzTech used the straight-line method to calculate depreciation on the warehouse and has no non-recaptured Section 1231 losses.
a. Compute EzTech’s taxable income.
b. Re-compute taxable income assuming that EzTech used the land in its business instead of holding it for investment.


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  • CreatedNovember 03, 2015
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