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A Corporation Sold a Warehouse During the Current Year

Question 47

Multiple Choice

A corporation sold a warehouse during the current year. The straight-line depreciation method was used. Information about the building is presented below: A corporation sold a warehouse during the current year. The straight-line depreciation method was used. Information about the building is presented below: How much gain should the corporation report as section 1231 gain? A) $124,000 B) $620,000 C) $586,000 D) $710,000 How much gain should the corporation report as section 1231 gain?


A) $124,000
B) $620,000
C) $586,000
D) $710,000

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