Unformatted text preview: Auto purchased 3/1/12 for $20,000; accumulated depreciation $8,000; Sales price = $10,000. Required calculate gain/loss for each asset and the character(s) of the gain. Fill out form 4797 for TMI Corp, completing both pages of the form with the appropriate calculations of the ordinary vs. capital gain....
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- Winter '12
- Depreciation, sales price, Ron Unger, TMI Corporation