Section 1231
Section of the Internal Revenue Code applies to assets used in a trade or business,. In general, gains on section 1231 assets are taxed at capital gains rates, and losses are considered ordinary losses for tax purposes. Assets included under section 1231 are apartments, warehouses, hotels, and office buildings.
Popular Real Estate Terms
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Rights, interest, and benefits inherent in the ownership of real estate, as distinguished from personal property ...
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Roof design having two different pitches. See also gambrel roof. ...
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