Maria owns depreciable residential rental real estate that has accumulated depreciation of $65,000 (all from straight-line) .
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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 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.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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