Only Accelerated Depreciation Is Recaptured for §1245 Assets

question 72

True/False

Only accelerated depreciation is recaptured for §1245 assets.

---

Definitions:

Trial Balance Totals

The aggregate sum of all debit and credit balances in a trial balance, which should equal each other, verifying the mathematical accuracy of the ledger accounts.

Cash Withdrawal

The act of taking money out of a bank account, which decreases the account balance.

Accounts Receivable

Unsettled dues from customers to a business for goods or services that have already been delivered or used.

Fees Earned

Revenue generated from providing services to clients or customers.