Multiple Choice
Lynne owns depreciable residential rental real estate which has accumulated depreciation (all from straight-line) of $65,000. If Lynne sold the property, she would have a $53,000 gain. The initial characterization of the gain would be:
A) Section 1245 gain.
B) Section 1231 gain.
C) Section 1250 gain.
D) Section 1239 gain.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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