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Trena LLC,a Tax Partnership Owned Equally by Trent and Nina,sells

Question 16

True/False

Trena LLC,a tax partnership owned equally by Trent and Nina,sells a building it had placed in service five years ago.Sec.291 will require that part of the gain (up to 20% of accumulated depreciation)be treated as ordinary gain,with the balance treated as Sec.1231 gain.

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