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Second, the pro-business rule of Section 1231 is modified when applied to gain recognized on the sale of depreciable property. Explain depreciation recapture for assets
Second, the pro-business rule of Section 1231 is modified when applied to gain recognized on the sale of depreciable property. Explain depreciation recapture for assets deemed 1245 and how this depreciation recapture changes the character of the gain and thus the tax rates applied to these gains. Please be specific.
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