Lynne owns depreciable residential rental real estate that has accumulated depreciation of $65,000 (all from straight-line) . If Lynne sold the property, she would have a $53,000 gain. The initial characterization of the gain would be:
A. Section 1245 gain.
B. Section 1231 gain.
C. Section 1250 gain.
D. Section 1239 gain.
E. None of these.
Answer: B
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