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A taxpayer who is not a dealer sells a peice of equipment for $18,000, The...

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Finance

A taxpayer who is not a dealer sells a peice of equipment for $18,000, The sales price is payable in 3 annual installments. The taxpayer's basis in the property at the time of the sale was $11,000. Of the $7,000 gain on the sale, $6,000 is subject to depreciation recapture under Code Sec 1245. How much of the gain can be taken into avvoutn under the installment method? (1) $0 (2) $1,000 (3) $6,000 (4) $7,000

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