Hannah, a single taxpayer, sold her primary residence on January 1, 2018. Her total realized gain is $210,000. The house was acquired on January 1, 2008, and rented to tenants until December 31, 2014. Hannah moved in on January 1, 2015, and used the house as her principal residence until the sale. During the rental period, $30,000 of depreciation was deducted. Due to the sale of the house in 2018, Hannah will recognize a gain of
A. $30,000.
B. $147,000.
C. $156,000.
D. $138,000.
Answer: D
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A. preconventional level B. conventional level C. postconventional level D. neoconventional level
Which of the following is not appropriate when preparing a reply?
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a. one b. two c. three d. four
By virtue of the existence of a partnership, each partner has the authority to enter into binding contracts on behalf of the partnership
Indicate whether the statement is true or false