Ana
Level 2
04-01-2021
02:04 PM
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Not sure that the depreciation method is relevant. I have a 110000 cost, 65K accumulated depreciation sale price of $320K carrying $300K. I should have capital gains in the amount of $65K- and taxable income for the interest received in 2020. Perhaps I am wrong, it is not every day that I see owner-financed sales.