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What is the adjusted basis of the warehouse

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Question - Davidson Industries, a sole proprietorship, sold the following asset in 2019:

Asset

Cost

Acquired

Depreciation(through date of sale)

Sale Price

Sale Date

Warehouse

$150,000

10/10/10

$25,801

$175,000

3/15/19

Required -

1) What is the adjusted basis of the warehouse?

2) What is the realized gain on the warehouse?

3) What amount of the gain is taxed according to §1250 rules?

4) What amount is considered a §1231 gain before netting?

Reference no: EM132488556

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