Shania, who files as single, recently sold an apartment building for $225,000 that had an adjusted basis of $25,000 (Cost $175,000 - Accumulated depreciation $150,000). If Shania's taxable income before considering this gain is $225,000, what is Shania's tax liability from the sale of the apartment building?

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Shanias Tax Liability from Selling the Apartment Building 1 Calculate the capital gain Cap... View the full answer