Identify which of the following statements is true.
A)The depreciation recapture potential for a Sec. 1245 property is not included in the definition of a Sec. 751 asset.
B)For Sec. 751 purposes, "substantially appreciated inventory" means property held for sale to customers whose market value exceeds its adjusted basis.
C)Inventory for Sec. 751 purposes includes all property except cash, capital assets, and Sec. 1231 assets.
D)All of the above are false.

Question

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The Answer of Identify which of the following statements is true.
A)The depreciation recapture potential for a Sec. 1245 property is not included in the definition of a Sec. 751 asset.
B)For Sec. 751 purposes, "substantially appreciated inventory" means property held for sale to customers whose market value exceeds its adjusted basis.
C)Inventory for Sec. 751 purposes includes all property except cash, capital assets, and Sec. 1231 assets.
D)All of the above are false.

Identify Which of the Following Statements Is True