A possible foreclosure auction for Elvis’ former home now seems to be off the table. But how did it become a possibility in the first place?
It looks like Graceland won’t be auctioned off. But how did the possibility ever occur?
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Unrecaptured Section 1250 Gain: What It Is, How It Works, and Example
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Unrecaptured section 1250 gain is an IRS tax provision where depreciation is recaptured when a gain is realized on the sale of depreciable real estate.
Tennessee turns over probe into failed Graceland sale to federal authorities, report says
The Tennessee attorney general’s office says it turned over its investigation into the failed sale of Elvis Presley’s home Graceland at a foreclosure auction to federal authorities