Which of the following is correct about the tax law and taxpayers' strategy in the gains and losses netting process for individuals' property transactions?

I.) Use any capital loss carryovers to first offset gains taxed at the 15% rate

II.) The amount of Section 1245 Deprecation recapture is not part of the capital gains and losses netting process

III.) The amount of Un-recaptured Section 1250 gain may become part of the capital gains and losses netting process

Question options:

Only I is correct

Both I and II are correct

Both II and III are correct

All of them are correct

None of them are correct