Question: 13 and 14 Ewing Corporation sold an office building that it used in its business for $885,388. Ewing bought the building ten years ago for

Ewing Corporation sold an office building that it used in its business

for $885,388. Ewing bought the building ten years ago for $757,239 and

13 and 14

Ewing Corporation sold an office building that it used in its business for $885,388. Ewing bought the building ten years ago for $757,239 and has claimed $578,476 of depreciation expense. What is the amount of the 51231 capital gain for Ewing Corporation?

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Answer Part 1 For Corporations Section 291 recapture is 20 of the lesser of Depreciation taken or ... View full answer

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