Question

Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question.
Firm WD sold depreciable realty for $225,000. The firm purchased the realty 12 years earlier for $350,000 and deducted $155,000 MACRS depreciation through date of sale. During an audit of the tax return on which the sale was reported, the IRS deter-mined that WD had incorrectly computed its depreciation with respect to the realty. The correct depreciation through date of sale should have been $200,000.


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  • CreatedNovember 03, 2015
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