Eighteen-year ACRS nonresidential real property owned by an individual has accumulated accelerated depreciation of
$975,000
at January 1, of this year. This property is sold on January 1, this same year. The original cost of the property was
$975,000
. The sale price was
$1,000,000
. The amount of the realized and recognized gain is: a.
$60,000
b.
$150,000
c.
$175,000
d.
$1,000,000

Question

Eighteen-year ACRS nonresidential real property owned by an individual has accumulated accelerated depreciation of

$975,000

at January 1, of this year. This property is sold on January 1, this same year. The original cost of the property was

$975,000

. The sale price was

$1,000,000

. The amount of the realized and recognized gain is: a.

$60,000

b.

$150,000

c.

$175,000

d.

$1,000,000

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