Section 1245
A part of the IRS code stating that depreciable property that has been sold at a price in excess of depreciated or salvage value may qualify for favorable capital-gains tax treatment. Investopedia Says:
This is generally a good thing for the seller. Generally capital gains taxation rates are more favorable than income tax, and under section 1245 they are even a little more advantageous. Related Terms:
Accelerated Cost Recovery System-ACSR
Accelerated Depreciation
Assessed Value
Capital Gains
Depreciation
General Depreciation System
Salvage Value
Section 1250 |