Business, 03.04.2020 17:45 samehajamal1234567

In the current year, Henry, a sole proprietor, sold for $65,000 a machine that was used in his business. The machine had been purchased a few years ago for $50,000, and when it was sold, it had accumulated depreciation of $20,000 and an adjusted basis of $30,000. For the current year, how should this gain be treated?

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In the current year, Henry, a sole proprietor, sold for $65,000 a machine that was used in his busin...

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