B&I Inc Sold a Commercial Office Building Used in the Corporate

question 39

Multiple Choice

B&I Inc. sold a commercial office building used in the corporate business for $862,000. B&I purchased the building in 2010 for a cost of $700,000 and had deducted $167,200 MACRS depreciation through date of sale. B&I should characterize the $329,200 gain recognized on sale as:

• A) $167,200 ordinary gain and $162,000 Section 1231 gain
• B) Section 1231 gain
• C) Capital gain
• D) None of these choices are correct

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Definitions:

Hominids

A family of primates that includes humans and their extinct ancestors, characterized by bipedalism, large brain size, and complex behaviors.

Skeletal Differences

Variations in the structure or composition of the skeletal system among different organisms or individuals, often used in the study of evolutionary biology and anthropology.

Hominoids

A group that includes all modern and extinct Great Apes and humans, characterized by larger brains, no tail, and an upright posture.

Hominins

refers to members of the human lineage after the split from the common ancestor with chimpanzees, including modern humans and extinct human species.