A Retail Building Used in the Business of a Sole

question 62

Multiple Choice

A retail building used in the business of a sole proprietor is sold on March 10, 2019, for $342,000.The building was acquired in 2009 for $400,000 and straight-line depreciation of $104,000 had been taken on it.What is the maximum unrecaptured § 1250 gain from the disposition of this building?

• A)$400,000
• B)$322,000
• C)$104,000
• D)$26,000
• E)None of these.

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Definitions:

Public Ritual

A ceremonial event performed by members of a community in a public setting, often with cultural or religious significance.

Cultural Identities

The shared characteristics, traditions, languages, and customs that define a group of people and distinguish them from others.

Militia Musters

Historical gatherings where local military units met for training or review.

Economic Growth

Economic growth is the increase in the market value of the goods and services produced by an economy over time, typically measured as the percent rate of increase in real gross domestic product (GDP).