Sale of Business Property
Sale Of Section 1245 Property
A gain on the disposition of section 1245 property is treated as ordinary income to the extent of depreciation allowed or allowable on the property. Any gain recognized that is more than the part that is ordinary income from depreciation is a section 1231 gain. Generally, section 1245 property includes any property that is or has been subject to an allowance for depreciation or amortization.
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