Ashyria sold a rental house that she owned for $250,000. Ashyria bought the rental house five years ago for $225,000 and
Posted: Sun Apr 10, 2022 8:28 am
Ashyria sold a rental house that she owned for $250,000. Ashyria bought the rental house five years ago for $225,000 and has claimed $50,000 of depreciation expense. What is the amount and character of Ashyria's gain or loss? O $25,000 ordinary and $50,000 unrecaptured $1250 gain. O $25,000 $1231 gain and $50,000 unrecaptured $1250 gain. O $25,000 capital and $50,000 ordinary gain. O $75,000 ordinary gain.