Which of the Following Real Property Could Be Subject to §

question 34

Multiple Choice

Which of the following real property could be subject to § 1250 depreciation recapture?

• A)Leasehold improvements placed in service in 2012 on which § 168(k) additional first-year depreciation was taken.
• B)A building acquired in 1997 on which straight-line depreciation was taken.
• C)Equipment on which accelerated depreciation was taken.
• D)Land which was not depreciated.
• E)a.and b.

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Definitions:

Canada Pension Plan

A mandatory public retirement insurance program in Canada, providing income to retired workers.

Defined Contribution Plans

Retirement savings plans where the amount contributed to an employee's account is defined, but the payout at retirement depends on the account's investment performance.

Defined Benefit Plans

A retirement plan where employee benefits are calculated using a formula that considers factors such as salary history and duration of employment.

Deferred Profit-sharing Plans

A type of retirement plan in which employees receive a share of the company's profits at a future date, typically upon retirement.