if you purchase a property with the business in 2016 for $310,000.

In 2022 you want to sell that property with business.

And if somebody gave you an offer for $605,000.

That number is broken down into $405,000 for the building, 63,000 for the equipment, and 137,000 for the business.

which items are taxable, and What percentage are the taxes?

do you have to pay back to the government for depreciation on equipment that you have filed each year?

Answer rating: 100% (QA)

Heres a breakdown of the tax implications for each component of the sale 1 Building The gain on the sale of the building is taxable The gain is calcul... View the full answer