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How much is lexington depreciation recapture potential

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Reference no: EM132703237

The Lexington Partnership has a depreciable business asset (personal property) that it originally purchased for $126,600. The asset now has an adjusted basis of $75,960 and a market value of $151,920. The partnership has no other potential hot assets. Ambroz sells his 25% interest in the partnership.

Problem a. How much is Lexington's depreciation recapture potential?

Problem B. How much ordinary income does Ambroz recognize when he sells this partnership interest?

Reference no: EM132703237

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