Question
Maria owns depreciable residential rental real estate that has accumulated depreciation of $65,000 (all from straight-line) . If Maria sold the property, she would have
Maria owns depreciable residential rental real estate that has accumulated depreciation of $65,000 (all from straight-line) . If Maria sold the property, she would have a $53,000 gain. The initial characterization of the gain would be:
a. Section 1250 gain.
b. Section 1245 gain.
c. Section 1231 gain.
d. Section 1239 gain.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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