T/F 22. Sec. 1245 applies to losses as well as gains. 23. Sec. 1250 depreciation...
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Accounting
T/F
22. Sec. 1245 applies to losses as well as gains.
23. Sec. 1250 depreciation recapture and unrecaptured Sec. 1250 gain apply to both individuals and corporations.
24. Sec. 291 has no effect on Sec. 1245 property because gain is already recaptured to the extent of all depreciation.
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