Section 1245
Definition of "Section 1245"
Provision of the Internal Revenue Code applying to gains from the sale of personal property subject to depreciation. In most cases, the gains are at the capital gains tax rate limited to the amount of accumulated depreciation taken.
Popular Real Estate Terms
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Condensed appraisal report covering the major items. ...
Time period for which one expects to keep property such as a real estate investment. ...
Individual who enjoy a freehold land right. ...
Provision in an agreement in which its renewal is a matter of course at the end of its initial term. ...
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Holding pool of mortgages. It is marketed as a tax exempt mortgage backed security for investors. ...
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Basis for the valuation of property acquired from a decedent for tax purposes. The unified transfer tax in 1976 provides for the valuation of property to be the adjusted basis immediately ...
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