Section 1245 Property refers to personal property that is subject to depreciation recapture, specifically in the context of tax regulations.
Comprehensive entry on Section 1250 Property including definition, historical context, types, examples, applicability, and related terms.
Tax recapture is the process through which previously realized tax benefits are reclaimed by the government when an asset is sold, specifically if the benefit of prior deductions is reversed.
Understanding the concept of depreciation recapture, which involves taxing at ordinary rates part of the gain on a sale that represents prior depreciation allowances.
An in-depth look at recapture of depreciation, including its tax implications, calculations, examples, and related terms.
