Question 12 0.25 pts In 2017, Olivia's Optometry, a sole proprietorship, purchased a piece of...
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Question 12 0.25 pts In 2017, Olivia's Optometry, a sole proprietorship, purchased a piece of business-use property (Equipment A) for $1,000,000. Olivia's owned Equipment A for more than a year and depreciation deductions totaled $600,000 In 2020, Olivia's sold Equipment A for $200,000, and Olivia's paid no selling expenses. What amount of Olivia's recognized gain or loss is recaptured as ordinary income under section 1245? Sofia
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