Question

This year, Sigma Inc. generated $612,000 income from its routine business operations. In addition, the corporation sold the following assets, all of which were held for more than 12 months.
a. Compute Sigma’s taxable income assuming that it used the straight-line method to calculate depreciation on the building and has no non-recaptured Section 1231 losses.
b. Re-compute taxable income assuming that Sigma sold the securities for $150,000 rather than $64,000.


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  • CreatedNovember 03, 2015
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