YATI Co is a sole proprietorship of Riley and he reports it on Schedule C of his individual tax return. YATI Co-owned a building with an original cost basis of $100,000 and straight-line accumulated depreciation of $15,000. YATI Co sold the building for $95,000. What is the amount and character of the gain?

Answer rating: 100% (QA)

The recognized gain on sale comes to 10000 95000 85000 The amount ... View the full answer