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.

---

Definitions:

Podcasting

The production and distribution of audio or video episodes that audiences can download or stream online.

Video Content

Video content refers to any content format that uses moving images, such as live-action video, animations, or motion graphics, to communicate messages, tell stories, or provide information.

Broadcasting

The transmission of audio or video content to a dispersed audience via any electronic mass communication medium, typically encompassing radio, television, and the internet.

Journal Entries

Recorded transactions in the books of accounts, detailing the financial activities and changes in an organization.