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Karen owns depreciable residential rental real estate that has accumulated depreciation (all from straight-line) of $45,000. If Karen sold the property, she would have a
Karen owns depreciable residential rental real estate that has accumulated depreciation (all from straight-line) of $45,000. If Karen sold the property, she would have a $33,000 gain. The initial characterization of the gain would be under which section? Explain.
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