In January 2009, Julius purchased for $110,000 a rental house which he immediately placed in service. The purchase price included $10,000 for the land. n August of 20, he decided How much depreciation may he deduct in 20187 sel the house to the tenant O $1.364 O 2.273 O 53.485 OS1.636 Mark for follow up Which of the following examples of business-use property is NOT eligible for Section 1231 treatment when sold at a gain? Sale of land held for three years. Net gain from a casualty gain on a dump truck held for two years. Sale of a leasehold held for more than a year. Sale of dairy cattle held for 14 months