a Secure | https//newconnect .mher hapter 11 - Due April 17 Help Sa 0 8 Required

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a Secure | https//newconnect .mher hapter 11 - Due April 17 Help Sa 0 8 Required information The following information applies to the questions displayed below) Moaran onis a bulden year O for $198,000 esold the buding in year G Ouring the time he held the building he depreciated it by $50,000 What is the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA if o situation is not applicable. Leave no answer blank. Enter zero if applicable.) C. Moran received $130,000. Unrecaptured 51250 loss (and $1231 loss) Remaining 51231 gan (loss) FT F10 5 BAK RTYUI

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Exercise- 8

S.No. Description Amount ($) Explanation 1 Amount Realized 136,000 Given 2 Original Basis 198,000 Given 3 Accumulated Depreciation 50,000 Given 4 Adjusted Basis 148,000 2 - 3 5 Gain/(Loss) Recognized (12,000) 1 - 4 6 Uncaptured s1250 gain (and s1231 gain) 0 Lesser of 5 or 3 7 Remaining s1231 loss (12,000) 5 - 6 Total s1231 loss (12,000) 6 + 7

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