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.

Resources

See Also

Further Reading

• Section 1231 Property in the West's Tax Law Dictionary
• Section 1231 Property in “A Dictionary of Taxation”