Which of the Following Creates Potential § 1245 Depreciation Recapture

question 56

Multiple Choice

Which of the following creates potential § 1245 depreciation recapture and potential § 1231 gain?

• A) Depreciable office furniture held more than one year and sold for more than its original cost.
• B) Amortizable goodwill held more than one year and disposed of for less than its adjusted basis.
• C) Land held more than one year and sold for more than was paid for it.
• D) A note receivable held more than one year and sold for less than was paid for it.
• E) None of the above.

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Definitions:

Physician's Ignorance

A situation where a medical professional lacks knowledge or awareness about a specific condition, treatment, or patient concern.

Medical Schools

Institutions dedicated to educating and training students in the field of medicine to become physicians or other medical professionals.

Acceptance Of Death

The process of acknowledging and mentally preparing for one's own death or the death of others, often considered a stage in the grieving process.

Physician

A medical professional qualified to practice medicine, focused on diagnosing, treating, and preventing illnesses and injuries.