Depreciation deductions, During the current year, Hugo

Depreciation deductions

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Reference no: EM1358765

During the current year, Hugo sells equipment for $150,000, which it placed in service in 2009. The equipment cost $175,000, and $55,000 of depreciation deductions was allowed. The results of the sale are

A. LTCG of $30,000.

B. Sec. 1231 gain of $30,000.

C. Sec. 1245 ordinary income of $30,000.

D. Sec. 1250 ordinary income of $30,000.

Reference no: EM1358765

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