Answer and Explanation:
The computation of the amount and character of the gain recorded is shown below:
1. Recognized gain would be
= Sales - the cost of the property - recovery cost
= $1,200,000 - $1,000,000 - $411,750
= $611,750
2. Now as per the section 1245 the potential recapture is $411,750
3. Now extra section 291 ordinary income in the case when it is a corporation
= $411,750 ×20%
= $82,350
4. And finally $82,350 would be considered as an ordinary income under section 291 while the remaining balance i.e.
= $611,750 - $82,350
= $529,400
This amount would be considered as a gain under section 1231
<span>Which commercial lodging type is located on or near U.S. installations, is operated by a commercial lodging company, and is corporately branded? DoD Privatized Lodging. DoD stands for Department of Defense. This type of lodging is found near or on U.S. military installations and used for government travel. </span>
10 cents is more valuable than finding a dollar i think because of the connection with hardworking , rather earn something than find because are luck isn’t always trusted
