What is quacks section 1250 recapture on given transaction

Reference no: EM131967152

Problem

Quack purchased a building for $3,000,000 in 2008. Quack sold the building in 2012 for $3,700,000. The adjusted basis of the building when sold is $2,700,000.

(a) What is Quack's Section 1250 recapture on this transaction?
(b) What is Quack's Unrecaptured 1250 gain on this transaction?
(c) What is Quack's Section 1231 gain on this transaction?

Reference no: EM131967152

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