What amount of gain would be recaptured

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Problem 1: A taxpayer sold for $250,000 equipment that had an adjusted basis of $220,000. Through the date of the sale, the taxpayer had deducted $40,000 of depreciation. Of this amount, $27,000 was in excess of straight-line depreciation. What amount of gain would be recaptured under Section 1245 (Gain from Dispositions of Certain Depreciable Property)?

a. $40,000
b. $27,000
c. $13,000
d. $30,000

Reference no: EM132783907

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