What part of the gain is taxed as long-term capital gain

Reference no: EM133474198

Question: Jannie, a self-employed taxpayer, purchased machinery for $60,000 in 2014. In 2022, Jannie sold the machinery for $67,000. At the time of the sale, Jannie's depreciation deduction totaled $50,700. What part of the gain is taxed as long-term capital gain?

Reference no: EM133474198

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