Match Each Statement with the Correct Term Below

question 49

Multiple Choice

Match each statement with the correct term below.
-Unrecaptured Section 1250 gain

• A)Stocks, bonds, options.
• B)Depreciable real property.
• C)All or part of any gain on sale is excluded.
• D)Taxed at a maximum rate of 25%.
• E)Gain or loss on the sale of artwork.
• F)Depreciable tangible personal property.
• G)Subject to full recapture as ordinary income of all depreciation taken.
• H)Gain on real property attributable to excess depreciation is ordinary income.

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Definitions:

Sole Proprietorship

An organizational model in which a sole proprietor is in charge of owning, operating, and bearing all responsibilities for the enterprise.

Articles Of Incorporation

Legal documents filed with the state government to legally document the creation of a corporation.

Paralegal

A legal assistant who performs tasks such as researching, preparing documents, and other support functions under the supervision of an attorney.

Corporate Name

The legal name under which a corporation is registered to conduct business, distinguishable from any other registered entity.