Aarons grandfather, Steven, died on 8/1/2021. Steve owned rental property in Phoenix which he purchased on 9/1/2008 for $545,000. The accumulated depreciation on the building was $145,000. The FMV on 8/1/2021 was $450,000. Steven left the property in his will to Aaron. Aaron sold the property for $640,000 on 12/1/2021. Aaron recognizes a LTCG of $190,000 Select one: True False