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Identify which of the following statements is true. A. Section 1244 ordinary loss treatment is...

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Accounting

Identify which of the following statements is true.

A. Section 1244 ordinary loss treatment is available to any shareholder.

B. Property contributions to a corporation by nonshareholders will result in income recognition by the corporation if the contributed property is subsequently sold.

C. A taxpayer must make a special election to take advantage of Sec. 1244

D. All of the above are false.

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