If Straight-Line Depreciation Is Used by an Individual for Real

question 21

True/False

If straight-line depreciation is used by an individual for real estate, no § 1250 recapture will be recognized if the property is sold at a gain.

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Definitions:

iPhone

A line of smartphones designed and marketed by Apple Inc., featuring a multi-touch interface, cellular connectivity, and a variety of applications.

Reasonable Care

The degree of care that a reasonably prudent person would have used under the same circumstances and conditions.

Liable

Liable refers to the state of being legally responsible for something, typically involving the obligation to compensate for damage or loss caused.

Gross Negligence

Very great negligence.