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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Reducing the prepaid items on a debt agreement. ...
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Expenditures incurred subsequent to the building of a structure. ...
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Protection over and above that of an insurance policy or warranty. ...
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