Sylvio Purchased an Apartment Building as an Investment in January

question 51

Multiple Choice

Sylvio purchased an apartment building as an investment in January 2008 for $383,500 and sold it for $475,000 in 2014.He reported $68,436 of allowed accumulated straight-line depreciation.If Sylvio is in the highest tax bracket for ordinary income,how much of his gain qualifies for preferential tax treatment?

• A) $0.
• B) $68,436.
• C) $91,500.
• D) $159,936.