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what is 1245 property

1Answers
MacBlakely
11/28/2025, 06:49:40 AM

Section 1245 property, under U.S. tax regulations, includes depreciable personal property and certain tangible assets that are not real estate, like equipment or vehicles. Understanding this classification is important because it determines how any gain from selling the property is taxed, specifically with regard to recapturing previously claimed depreciation.

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