Meaning Section 1245
What does Section 1245 mean? Here you find 2 meanings of the word Section 1245. You can also add a definition of Section 1245 yourself
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Section 1245Section is 1245 is the part of the U.S. Tax Code that explains how the sale of depreciable property may qualify as a taxable capital gain rather than taxable income. Â
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Section 1245Section 1245 of the Internal Revenue Services code deals with depreciable personal property. Equipment and vehicles are examples for Section 1245 property. A business may be qualified for favorable ca [..]
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