Section 1245 Property Is Subject to a Full Recapture of All

question 92

True/False

Section 1245 property is subject to a full recapture of all depreciation taken as ordinary income.

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Definitions:

Pastimes

Activities or hobbies engaged in for pleasure and relaxation during one's free time.

Unpaid Activities

Activities or work performed without financial compensation, including volunteer work, household chores, and caregiving roles.

Personally Meaningful

Pertaining to something that has significant importance or emotional relevance to an individual.

Cover Letter

A document sent with a job application explaining the applicant's credentials and interest in the open position.