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What is Skylar total realized gain

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Reference no: EM132660617

Problem - In 2019, Skylar sold an apartment building for $20,000 cash and a $300,000 note due in two years. Skylar's cost of the property was $250,000, and he had deducted depreciation of $150,000, $60,000 of which was in excess of what the straight-line amount would have been.

Required -

a. Under the installment sales method, what is Skylar's total realized gain?

b. In 2019, how much § 1250 gain does Skylar recognize? How much § 1231 gain does he recognize?

Reference no: EM132660617

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