Shanstella Bought a 4-Unit Apartment Building in July 2008 for $360,000

question 19

Multiple Choice

Shanstella bought a 4-unit apartment building in July 2008 for $360,000 and sold it for $480,000 in 2017.There was $96,541 of accumulated straight-line depreciation on the apartment building.Assuming that Shanstella is in the 33% tax bracket,how much of her gain is taxed at 25%?

• A)$0.
• B)$96,541.
• C)$120,000.
• D)$216,541.

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Definitions:

Mental Health Parity

The equal treatment of mental health conditions and substance use disorders in insurance plans compared to physical health ailments.

Psychiatric Medication

Medicines used specifically to alter chemical levels in the brain that impact a person's mood and behavior, used in the treatment of mental health disorders.

Employee Assistance Program

A work-based intervention program designed to assist employees in resolving personal problems that may be adversely affecting their job performance, health, and well-being.

Outpatient Counseling Center

A healthcare facility where individuals receive mental health services, including therapy and counseling, without being admitted overnight.