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  • Flow Chart (Section 1231, 1245, 1250 Assets)

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    JayV
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    This flow chart outlines the tax treatment of gains and losses from the sale of different types of business assets under sections 1231, 1245, and 1250 of the tax code. Section 1231 assets include gains treated as long term capital gains or ordinary losses. Section 1245 assets include gains treated as ordinary income up to prior depreciation deductions. Section 1250 assets include gains treated as ordinary income up to additional depreciation deductions, with remaining gains taxed as capital gains.

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    1231

    Titre original

    1231-Flow-Chart-2011

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    This flow chart outlines the tax treatment of gains and losses from the sale of different types of business assets under sections 1231, 1245, and 1250 of the tax code. Section 1231 assets include gains treated as long term capital gains or ordinary losses. Section 1245 assets include gains treated as ordinary income up to prior depreciation deductions. Section 1250 assets include gains treated as ordinary income up to additional depreciation deductions, with remaining gains taxed as capital gains.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    300 vues1 page

    Flow Chart (Section 1231, 1245, 1250 Assets)

    Transféré par

    JayV
    This flow chart outlines the tax treatment of gains and losses from the sale of different types of business assets under sections 1231, 1245, and 1250 of the tax code. Section 1231 assets include gains treated as long term capital gains or ordinary losses. Section 1245 assets include gains treated as ordinary income up to prior depreciation deductions. Section 1250 assets include gains treated as ordinary income up to additional depreciation deductions, with remaining gains taxed as capital gains.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 1

    FLOW CHART [SECTION 1231, 1245, 1250 ASSETS]

    All depreciation
    LOOK BACK taken =ordinary
    1245 ASSETS
    5 years
    (Ordinary) Depreciable business
    GAIN personal property Remaining Gain
    1231 Gain = 0/15%
    1231
    ASSETS
    LOSS REMAINING
    (Ordinary) GAIN Straight Line Depreciation
    1250 ASSETS =Unrecaptured 1250 gain
    = 25%
    All depreciable
    real estate
    Remaining Gain
    =1231 Gain
    =0/15%

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