Marc lives in an apartment building and has a one-year, Ask an Expert

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Marc lives in an apartment building and has a one-year lease which began 3 months ago. His landlord is willing to pay Marc $1,450 to vacate the apartment building immediately. The landlord wants to sell the building to a buyer who will demolish the building and build a movie theater. The $1,450 Marc will receive will be:

A. An ordinary gain

B. A short term capital gain

C. A long term capital gain

D. Excludable from income

E. None of the above.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92020083

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