Saba Corp. bought an apartment complex during 2021 for $450,000 ($100,000 for the land, $350,000...
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Saba Corp. bought an apartment complex during 2021 for $450,000 ($100,000 for the land, $350,000 for the building) and sold it during 2022 for $460,000 ($120,000 for the land, $340,000 for the building). Assume $7,000 was deducted for CCA in 2021 (so UCC = 350 7 = 343K). Determine the tax consequences of the sale for 2022
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