Section 1231 Property

Table of Contents

Section 1231 Property

Description and Definition of Section 1231 Property

Long term depreciable property used in a trade or business such as equipment, vehicles, and rental real estate. Provided Section 1231 assets are held for the required period of time capital gain treatment is available on a profit upon the sale of the asset while a loss is deductible as an ordinary loss. All Section 1231 gains and losses must be netted.


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