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Augustus1 Augustus1
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7 years ago
All of the following statements are true regarding Sec. 1245 are true except
A) Sec. 1245 does not apply to any buildings placed in service after 1986.
B) Sec. 1245 applies to assets sold or exchanged at a gain or at a loss.
C) Sec. 1245 property includes nonresidential real estate that qualified as recovery property under the ACRS rules unless the taxpayer elected to use the straight-line method of cost recovery.
D) Sec. 1245 ordinary applies to total depreciation or amortization allowed or allowable but not more than the realized gain.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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7 years ago
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Augustus1 Author
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7 years ago
I'm forever indebted to you!

THANKS
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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