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  3. stewie sold a building on january 1,2022 for 1,000

Stewie sold a building on January 1,2022 for 1,000,000. It was previously used in Stewie's...

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Accounting

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Stewie sold a building on January 1,2022 for 1,000,000. It was previously used in Stewie's manufacturing business which he operated as a sole proprietor. The building was acquired in 2018 for $400,000 and straight-light depreciation of $55,000 has been taken on the building through the date of sale. What is the total unrecaptured section 1250 gain (25\% real estate gain) from the disposition of this building? A) $55,000 B) $600,000 C) $0 D) $655,000 E)None of the above

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