Question: the answer is 100% not B took the test its wrong please dont answer B i will downvote. this is my last question i have
the answer is 100% not B took the test its wrong please dont answer B i will downvote. this is my last question i have for the month. please dont answer if you dont not absolutely know the answer. Question 2 of 15. Not B Sargio sold a residential rental building for a gain of $20,000. He had originally purchased the building and placed it in service in March 2015 (for simplicity, the sale of land is not included in this question. The amount of depreciation allowed or allowable was $14,175. There were no other adjustments to the basis of the property and Sergio did not sell any other property during the tax year. What is the amount and nature of Sorgio's gain? $5,825 gain taxed as a long-term capital gain, and $14,175 gain taxed at a maximum of 25% $5,825 gain taxed at a maximum of 25%, and $14,175 gain taxed as a long-term capital gain. $20,000 gain taxed as a long-term capital gain. $20,000 gain taxed at a maximum of 25% Mark for follow up
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
