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What is the tax status of the property

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Question - Residential real estate was purchased in 2012 for $345,000, held as rental property, and depreciated straightline. Assume the land cost was $45,000 and the building cost was $300,000. Depreciation totaled $34,089. The building and land were sold on June 10, 2015, for $683,000 total. What is the tax status of the property, the nature of the gain from the disposition, and is any of it § 1250 depreciation recapture gain or unrecaptured § 1250 gain?

Reference no: EM132038155

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