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Question

Tracey White a sole proprietor owner of a dirt removal company sold three Section 1231 assets on November 30, 2018

as follows:

 

Screen Shot 2019-10-14 at 6.29.52 PM.png

Screen Shot 2019-10-14 at 6.29.52 PM.png

Asset Rack Forklift Bin Date
Purchased 04/05/1989 04/06/2006 7/1/2005 Depreciation
Taken $60,000 $23,000 $34,000 Cost $100,000 $35,000 $87,000 Sale
Price $75,000 $5,000 $60,000

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