Business
Business, 23.04.2020 00:08, katswindle11

Alejandro purchased a building in 1985, which he uses in his manufacturing business. Alejandro used the ACRS statutory rates to determine the cost-recovery deduction for the building. Alejandro's original cost for the building is $500,000 and cost-recovery deductions allowed are $500,000. If the building is sold for $800,000, the tax results to Alejandro areA. $500,000 sec 1245 ordinary income and $300,000 sec 1231 gainB. $800,000 sec 1231 gainC. $500,000 sec 1245 ordinary incomeD. $500,000 sec 1245 ordinary income and $300,000 sec 1250 gain

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Alejandro purchased a building in 1985, which he uses in his manufacturing business. Alejandro used...

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