8. Indicate which of the depreciation recapture rules may apply to the following taxpayers: (1245, 1250, 291) A. A corporation B. An individual taxpayer 9. Which takes priority, 1231 or 1245? 10. VB Corporation sold an office building it purchased several years ago that no longer met it's needs. The details of the sale are shown below: Sales price $2,000,000 Cost $1,200,000 Depreciation (700,000) Adjusted basis $500,000 Gain $1,500,000 A. Assume the S/L method of depreciation was used. Determine the character (291, 1231, 1245, 1250) of the A. Assume the S/L method of depreciation was used. Determine the character (291, 1231, 1245, 1250) of the gain. ho B. Assume an accelerated method of depreciation was used and had the S/L method of depreciation been used the amount of depreciation would have been $600,000 rather than $ 700,000. Determine the character of the gain (291, 1231, 1245, 1250)