Explain how much of the gain must the corporation include

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Reference no: EM13129704

On June 28, 2011 a corporation sold an apartment building for $150,000 (exclusive of the land). The building originally cost $100,000 (exclusive of the land), and since that time, the corporation has claimed $65,000 in accelerated depreciation under ACRS. The recapture rules applicable to trusts and estates require that $9,000 of the gain be listed as ordinaty income. Explain how much of the gain must the corporation include in ordinary income as depreciation recapture

Reference no: EM13129704

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