What is the difference between 1245, 1231, and 1250 properties?
https://www.taxaudit.com/tax-audit-blog/what-is-the-difference-between-1245-1231-and-1250-properties
webJan 24, 2022 · In summary, code sections 1231, 1245, and 1250 provide classification guidelines for different types of depreciable business property and how they are taxed when they are sold. Section 1231 applies to all depreciable business assets owned for more than one year, while sections 1245 and 1250 provide guidance on how different asset categories are ...
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