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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A contract not in writing. Oral contracts are legally enforceable except for those applicable to the sale of real estate. ...
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Annual return rate of capital invested in a wasting asset. The capital is returned from the depreciating asset's earned income. ...
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Guarantee by a seller to a buyer to satisfy, for a specified time period, problems in the quality or performance of items within the home. There is usually no additional charge during the ...
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