Publication 544 |
2001 Tax Year |
Introduction
When you dispose of business property, your taxable gain or loss is
usually a section 1231 gain or loss. Its treatment as ordinary or
capital is determined under rules for section 1231 transactions.
When you dispose of depreciable property (section 1245 property or
section 1250 property) at a gain, you may have to recognize all or
part of the gain as ordinary income under the depreciation recapture
rules. Any remaining gain is a section 1231 gain.
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