1 When corporate and noncorporate taxpayers sell real property placed in service after 1986, all depreciation taken will be taxed at a maximum rate of 25%. . it of Select one: O True O False 2 Theresa has a net Sec. 1231 gain in 2020. The gain is treated as ordinary income to the extent Theresa had any nonrecaptured net Sec. 1231 losses for the preceding five years. d ut of Select one: O True O False