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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Written obligation of a borrower that is backed by collateral in the event of default. The lender must assure himself that the market value of the security equals or exceeds the amount of ...
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