Ross Purchased a Building in 1985,which He Uses in His

question 25

Multiple Choice

Ross purchased a building in 1985,which he uses in his manufacturing business.Ross uses the ACRS statutory rates to determine the cost-recovery deduction for the building.Ross's original cost for the building is $500,000 and cost-recovery deductions allowed are $500,000.If the building is sold for $340,000,the tax results to Ross are

• A)$340,000 LTCG.
• B)$340,000 Sec.1231 gain.
• C)$340,000 Sec.1245 ordinary income.
• D)$340,000 Sec.1250 ordinary income.

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Definitions:

Flat Neck Veins

A clinical sign indicating possible dehydration or hypovolemia, where the veins in the neck appear less prominent or flat.

Hypokalemia

A medical condition characterized by lower than normal levels of potassium in the bloodstream.

Seizure Precautions

Guideline actions and safety measures taken to protect individuals from injury during or after a seizure, focusing on the environment and direct care.

Postural Hypotension

A form of low blood pressure that occurs when standing up from sitting or lying down, causing dizziness or faintness.