_____ 11.Section 291 recapture only applies to a corporation.

Name: _____ 11.Section 291 recapture only applies to a corporation.
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Section 291 of the Internal Revenue Code applies only to corporations and not to individuals, partnerships, or other entities. It requires corporations to recognize as ordinary income certain gains that were previously treated as capital gain when certain conditions are met, such as the sale of depreciable property.

_____ 11.Section 291 Recapture Only Applies to a Corporation