same ar 12 Sole proprietor Bill has a business machine that was sold. It had an adjusted tax basis of $17.000 uter accumulated tax depreciation of $5,000. The proceeds were $10,000. The machine had been purchased several years ago, and was not replaced. Which is correct? a. machine is a capital asset. b. result is an ordinary loss of $7,000. c. result is a capital loss of $5,000 ordinary loss of $2,000. d. result is a capital gain of $10,000. 18. Vie's at-risk amount in a passive activity is $200,000 at the beginning of the current year. His current loss from the activity is $80,000. Vie had no passive activity income during the year. At the end of the current year: a. Vic has an at-risk amount in the activity of $200,000 and a suspended passive loss of $80,000. (b. Vic has an at-risk amount in the activity of $120,000 and a suspended passive loss of $80,000. c. Vic has an at-risk amount in the activity of $120,000 and no suspended passive loss. d. Vie has an at-risk amount in the activity of $200,000 and no suspended passive loss. e. None of these. 19. Omar acquires/places in service used 7-year personal property for $100,000 to use in his business in February 2017. Omar does not elect $ 179 expensing, but does take the maximum regular cost recovery deduction (MACRS rate: .1429). He elects not to take additional first-year depreciation. As a result, Omar will have an AMT adjustment (AMT rate: 1071) in 2017 of what amount? a. So b. $10,710 $3,580 d. $14,290 e. None of these