Sec. 132.16. Rentals and gains from the sale or exchange of real property

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Income from, and deductions connected with, the rental of real property, and gain and loss from the sale, exchange or other disposition of real property, are not subject to allocation under section 132.13 or 132.15 of this Part, but are considered as entirely derived from or connected with the situs of such real property.

                    
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