A business building owned by an individual taxpayer on which straight-line depreciation of $13,000 was taken is sold on the installment basis for $100,000 with $20,000 down and four yearly installments of $20,000 plus interest. The adjusted basis for the building is $35,000 at the time of the sale. The building had been held for more than 12 months Indicate whether each statement is "correct" or "Incorrect" regarding if the building subject to 1250 recapture. a. Yes, because the selling price is greater than or equal to the adjusted basis. Incorrect b. Yes, because all real property used in a trade or business is subject to 1250 recapture. Incorrect Incorrect No, because it is subject to 1245 recapture. No, because 1250 recapture does not apply to properties that were depreciated using the straight-line method. C. d. correct Feedback Check My Work How much of the gain will be 1231 gain