Section 1231 gain 12 Wilson reports the following gains (losses) for year 2013.

Question

Section 1231 gain 12 Wilson reports the following gains (losses) for year 2013. Wilson has a marginal tax rate of 358. He reports a section 1250 gain from the sale of a building used in a business in the amount of $500, 000. Total accumulated depreciation on the building was $200,000. No other section 1231 gains or losses were reported during the year. There is no section 1245 or 1250 recapture during the year. Nonrecaptured section 1231 losses totaling $150, 000 were reported during the last five tax years. How much of the gain will be treated as 25% gain? 258 Gain $

Explanation / Answer

Answer to only 1 question per post is to be given, accordingly

In question 5, there will be Recognized gain to Ralph of $ 12000-10000 = $ 2000

Ralphs basis would be $ 12000

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