Content AreaJordan purchases residential rental property on June 30, 2023, for a c Q Question Content AreaWhich of the following is true regarding the treatment of casualty gains and losses from business or investment property? a. They are treated the same as casualty gains and losses from personal property. b. How they are treated depends on whether the property was held for more or less than 1 year. c. They are subject to a limitation of 10% of adjusted gross income. d. They are not subject to the depreciation recapture provisions.uestion Content AreaWhich of the following is true regarding the treatment of casualty gains and losses from business or investment property? a. They are treated the same as casualty gains and losses from personal property. b. How they are treated depends on whether the property was held for more or less than 1 year. c. They are subject to a limitation of 10% of adjusted gross income. d. They are not subject to the depreciation recapture provisions.ost of $290,000. Of this amount, $140,000 is allocable to the cost of the home, and the remaining $150,000 is allocable to the cost of the land. What is Jordan's maximum depreciation