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T sold a rental property for $150,000. He paid $100,000 for the property several years...

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Accounting

T sold a rental property for $150,000. He paid $100,000 for the property several years ago and had depreciated $20,000 under MACRS (SL depreciation).

What is the total gain? What amount is taxed at LTCG and what amount is at 25%?

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