QUESTION 20 The Section 1231 Gain and Section 1231 Loss rules and the Section 1245 Depreciation Recapture and Section 1250 Depreciation Recapture rules apply, directly or indirectly to Partnerships, S Corporations and Regular (C) Corporations, True False QUESTION 19 Joubert and Norman each have a fifty percent (50%) ownership interest in Denise Partnership. Each partner has an Adjusted Basis in her Partnership Interest of $100,000. Denise Partnership's Taxable income for the current year is $80,000 and it distributes 150,000 to each partner, Joubert's basis in her Partnership Interest at the end of the year is $140,000 True False