William sold Section 1245 property for $25,000 in 2016. the property cost $37,000 when it was pur…

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william sold

William sold Section 1245 property for $25,000 in 2016. the property cost $37,000 when it was purchased 5 years ago,. the depreciation claimed on the property was $17,000. Calculate the adjusted basis of the property. $ Calculate the recomputed basis of the property. $ Calculate the amount of ordinary income under $ Section 1245. Calculate the Section 1231 gain. $

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