What is the realized gain and the section 1245 gain

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Problem

Without changing any calculations above, assume that John sold a piece of machinery from his business to another third party. The original cost basis was $100,000 and the 4 years of accumulated depreciation was $87,610, Answer the questions below this was sold for $35,000 on August 15, 2024. Get the instant assignment help. What is the realized gain, the Section 1245 gain, Section 1250 gain, and the Section 1231 gain that would be reported?

Reference no: EM133906215

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