The Purpose of Code Sections 1245 and 1250 Recapture Provisions

question 53

True/False

The purpose of Code Sections 1245 and 1250 recapture provisions is to restrict the possibility of converting ordinary income into capital gains through use of depreciation deductions.

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Definitions:

Additive Mix

A process of color mixing where the combination of various colors of light results in a brighter light.

Trichromat

An individual who has full color vision, resulting from the normal functioning of all three types of cone cells in the retina, enabling the perception of all colors.

Color Spectrum

The range of all possible frequencies of electromagnetic radiation, visible to the human eye as different colors.

See Colors

The perceptual experience of different wavelengths of light, interpreted by the visual system as colors.