Which of the Following Transactions Results Solely in §1245 Gain

question 118

Multiple Choice

Which of the following transactions results solely in §1245 gain?

• A)Sale of machinery held for less than one year.
• B)Sale of machinery held for more than one year, where the gain realized exceeds the accumulated depreciation.
• C)Sale of machinery held for more than one year, where the accumulated depreciation exceeds the gain realized.
• D)Sale of land held for more than one year, where the amount realized exceeds the adjusted basis.
• E)None of the choices are correct.

---

Definitions:

Criminal Acts

Behaviors or actions that are punishable by law.

Statistics

The science of collecting, analyzing, interpreting, and presenting data to make decisions.

Branch Of Mathematics

A specific area of study within the wider field of mathematics, such as algebra, geometry, or calculus.

Numerical Data

Information expressed in numbers, allowing for mathematical operations to be performed.