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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

An individual purchased an apartment building for use in a business for \$300,000 in 2005. Th e building was sold for \$350,000 in October 2013. Depreciation taken was \$84,000. If there is no other Section 1231 gain (loss) during the year, how will the gain on the sale of this apartment building be treated?

a. \$134,000 15% long-term capital gain

b. \$84,000 15% long-term capital gain; \$50,000 25% long-term capital gain

c. \$50,000 15% long-term capital gain; \$84,000 25% long-term capital gain

d. \$134,000 25% long-term capital gain

e. \$134,000 short-term capital gain

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M938878

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