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What is the amount of ys total recognized gain

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Question - Corporation Y distributed depreciable personal property having a fair market value of $18,000 to its shareholders. The property had an adjusted basis of $12,000 to the corporation. Y had correctly deducted $4,500 in depreciation on the property. What is the amount of Y's total recognized gain on the distribution, and how much of this gain will be considered ordinary income?

Reference no: EM132836781

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