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What is their adjusted tax basis what code section dictates

Keith & Michael purchased residential real estate in 2010 to be used in the rental activity. They paid $42,000 for the property, had $12,500 of capital improvements and have claimed depreciation deductions of $9,909 of depreciation.

They sell the property in 2015 for $64,500.

What is their adjusted tax basis?

What is their gain?

Is there recapture? If so, how much? At what rate must it be recaptured?

What code section dictates this treatment?

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Accounting Basics: What is their adjusted tax basis what code section dictates

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