Moran owns a building he bought during year 0 for $230,000. He sold the building in year 6. During the time he held the building he depreciated it by $40,000.What is the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations?
C. Moran received $186,600.
- Total Gain/Loss Recognized $
- Unrecaptured §1250 gain (and §1231 gain) $0
- Remaining §1231 gain $