An individual taxpayer sells a business building placed inservice five years ago and recognizes a…

An individual taxpayer sells a business building placed inservice five years ago and recognizes a gain. This is the​taxpayer’s first and only sale of Sec. 1231 property. Since thegain will be treated as​ LTCG, the details of the sale should bereported on Schedule D of Form 1040. True orFalse?

 

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