Sang-Hun purchased a condo in 2018 and rented it out the entire time he owned it....

 

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Sang-Hun purchased a condo in 2018 and rented it out the entire time he owned it. His adjusted basis in the property before depreciation is $175,400 (there is no land value). In 2021, Sang-Hun sold the property for $210,000 with no other deductible expenses. The total depreciation claimable was $20,325. What is Sang-Hun's taxable gain on the disposition? Sang-Hun purchased a condo in 2018 and rented it out the entire time he owned it. His adjusted basis in the property before depreciation is $175,400 (there is no land value). In 2021, Sang-Hun sold the property for $210,000 with no other deductible expenses. The total depreciation claimable was $20,325. What is Sang-Hun's taxable gain on the disposition?

Answer rating: 100% (QA)

SangHuns taxable gain on the disposition is 34675 Here is the ... View the full answer