26. Which of the following statement(s) regarding Section 1245 is true: a. Only applies to personal property b. The gain amount beyond the original cost is treated as Sec 1231 gain c. Amounts realized that are less than adjusted basis are ordinary losses d. The determination of Adjusted Basis would take into account Bonus Depreciation claimed in the year of addition e. All of the above are true 27. Which statement regarding Section 1031 exchanges is false? a. Non-simultaneous exchanges require strict adherence to well established rules b. Section 1031 is elective for direct exchanges C. Basis and holding periods carryover from the old property to the new property d. Only real property is eligible after the 2017 Tax Act 28. Which of the following is not Boot in an otherwise non-taxable exchange? a. Debt relieved b. Cash received C. Real property used in the transaction d. Marketable Securities received