Which of the Following Is Not True Regarding §1239

question 53

Multiple Choice

Which of the following is not true regarding §1239?

• A)It only applies to related taxpayers.
• B)It only applies to gains on sales of depreciable property.
• C)It only applies to gains on sales of nonresidential real property.
• D)It does not apply to losses.
• E)None of the choices are correct.

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Definitions:

Inverted Pyramid

A writing structure used in journalism that presents the most important information first, followed by lesser details.

Similes

Figures of speech that compare two different things using "like" or "as" to highlight similarities.

Scope

The extent or range of view, outlook, application, operation, or effectiveness.