A Gain on the Disposition of Section 1245 Property Is

question 24

Multiple Choice

A gain on the disposition of Section 1245 property is treated as ordinary income to the extent of:

• A) Excess accelerated depreciation allowed or allowable over the depreciation figured for the same period using the straight-line method.
• B) Excess appreciated value over depreciation allowed or allowable using the straight-line method.
• C) fte difference between the amount realized over the cost of the property.
• D) Depreciation allowed or allowable (not to exceed the realized gain).

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Definitions:

Equitability

The quality of being fair and impartial, often used in the context of distributions of resources or treatment.

Established Criteria

Predetermined standards or benchmarks that are used to judge or measure the quality, effectiveness, or success of something.

Entitlement at Work

The belief or feeling that one deserves certain privileges or recognitions in the workplace without necessarily having earned them.

Responsible Behavior

Conduct that demonstrates accountability and ethical actions towards others and the environment.