Which of the following sections recaptures or recharacterizes only corporate taxpayer's gains?
A)§291.
B)§1239.
C)§1245.
D)Unrecaptured §1250 gains.
E)None of thesE.For corporate taxpayers only,§291 recaptures 20% of the lesser of gain realized or accumulated depreciation on real property.

Question

Quizplus · Accepted Answer

§291 recaptures or recharacterizes only corporate taxpayer's gains by recapturing 20% of the lesser of gain realized or accumulated depreciation on real property. The other sections listed may apply to both individual and corporate taxpayers.

Which of the Following Sections Recaptures or Recharacterizes Only Corporate