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How much is George gain or loss on the sale

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Question - George owns a warehouse, purchased for $2,000,000 on 7/21/05. On 9/18/20, he sells the building for $3,000,000. Accumulated depreciation at 1/1/20 is $741,460.

Required - How much is George's §1250 gain or loss on the sale?

a. None of these

b. $1,000,000 gain

c. $(777,783) loss

d. $777,783 gain

e. $741,460 gain

Reference no: EM132612909

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