Which of the following sections recaptures or recharacterizes only corporate taxpayer's gains?
A) §291.
B) §1239.
C) §1245.
D) Unrecaptured §1250 gains.
E) None of these.

Question

Quizplus · Accepted Answer

Section 291 applies specifically to corporate taxpayers and recaptures a portion of the additional depreciation on certain depreciable property, effectively recharacterizing some of the gain as ordinary income.

Which of the Following Sections Recaptures or Recharacterizes Only Corporate