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URL:https://www.learndesk.us/class/5661485168590848/lesson/22c32b14342659d67232c45f160a2758?ref=outlook-calendar
SUMMARY:Calculating the Capital Gain or Loss
DTSTART;TZID=America/Los_Angeles:20260513T190000
DTEND;TZID=America/Los_Angeles:20260513T200000
LOCATION:https://www.learndesk.us/class/5661485168590848/lesson/22c32b14342659d67232c45f160a2758?ref=outlook-calendar
DESCRIPTION: 
Let’s continue on with the example we are following and look at the calculation of the gain or loss.
Assume Bob purchased his property 10 years ago for $275,000 and he sells it today for $350,000. When he bought the property, he attributed $35,000 of the purchase price to the land. When he sold the property, he attributed $50,000 to land and $5,000 to personal assets like appliances. He is still carrying $4,000 of unamortized lending fees on the books out of a total of 6,000. He has taken $80,000 of straight-line depreciation over the 10 years on the rental structure and $3,500 of accelerated depreciation on the personal assets. The personal assets originally cost $6,000.
When he sells the property, his real estate commission is $21,000. He has title insurance and other fees of $5,000. Let’s look at his adjusted basis calculation.
Original Cost of Rental $275,000, Less:   Depreciation $  80,000, Adjusted Basis   $195,000, Personal Property basis $ 2,500, Total $197,500, Gain or...

https://www.learndesk.us/class/5661485168590848/lesson/22c32b14342659d67232c45f160a2758?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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