Section 1245 Depreciation Recapture Potential Does Not Carryover from the Deceased

question 55

True/False

Section 1245 depreciation recapture potential does not carryover from the deceased taxpayer to the beneficiary taxpayer.

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Definitions:

Flexibility

The ability to adapt and change in response to altering conditions and circumstances.

Restructuring Strategy

An organizational approach aimed at modifying its business structure, operations, or financial arrangement to improve efficiency, productivity, or adapt to market changes.

Operating At A Surplus

The condition in which a company or organization's revenues exceed its expenditures, leading to a positive financial position.

Money-Making

The process of generating revenue or profit, often considered as the primary goal of a business.