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Angel Sells the Following Depreciable Assets from Her Sole Proprietorship

Question 20

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Angel sells the following depreciable assets from her sole proprietorship:Angel sells the following depreciable assets from her sole proprietorship:  What should Angel report on her income tax return relative to each of these property transactions? A) $3,800 capital loss B) $3,100 Section 1245 recapture; $2,400 Section 1231 loss; $4,500 ordinary loss C) $3,800 ordinary loss D) $700 Section 1231 gain; $4,500 ordinary loss
What should Angel report on her income tax return relative to each of these property transactions?


A) $3,800 capital loss
B) $3,100 Section 1245 recapture; $2,400 Section 1231 loss; $4,500 ordinary loss
C) $3,800 ordinary loss
D) $700 Section 1231 gain; $4,500 ordinary loss

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