n5 Hortense sells a warehouse he placed in 2015. He recognizes a gain on the sale. This is Hortense's first and only sale of Sec. 1231 property. The gain is a LTCG and the the details of the sale are therefore reported on Schedule D of Form 1040. d ut of Select one: O True False 6 Freddy is a single taxpayer. In 2020 his marginal tax rate is 10%. Freddy sells land that is Sec. 1231 property at a gain of $6,000. Freddy has never sold any other Sec. 1231 assets. Assume Freddy has no other 1231 transactions or capital asset transactions, Freddy's tax on the $6,000 gain is zero. ut of Select one: O True O False