Don't overlook these!
Updated for 2012
Section 1231 is the section of the Internal Revenue Code that governs the tax treatment of depreciable business property held over one year that is subsequently sold. Such property is referred to as Section 1231 property.
Best of both worlds:
Under Section 1231, you get the best of both worlds, because:
If you sell Section 1231 property, to figure whether you have a net capital gain or an ordinary loss:
If a net gain results:
If a net loss results:
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