Vanna Owned an Office Building That Had Been Held More

question 35

Essay

Vanna owned an office building that had been held more than one year when it was sold for $567,000. The real estate had an adjusted basis of $45,000 for the land and $233,000 for the building. Straight-line depreciation of $162,000 had been taken on the building. What is the amount and initial character of the gain or loss from disposition of the real estate? Is any of the gain unrecaptured § 1250 (25%) gain?

---

Definitions:

Training Sessions

Structured periods of time where individuals are taught and developed in specific skills or knowledge.

Report

A summary of what has been accomplished in the past or an update on a project.

Project Update

Information or news provided on the current status, progress, or changes in a specific project.

Chronological

Arranged in order of time, from the earliest to the latest event.