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Tag: IRS-Section1245

An ancient tax code scroll representing IRC Section 1245, with gold text illustrating the importance of this provision.

Understanding IRS Section 1245: Recapturing Depreciation on Gains from Section 1231 Property

June 30, 2025 FinanceFacts101 Taxation

What Is Section 1245? IRC Section 1245, also known as the Depreciation Recapture Provision, outlines how the IRS recaptures allowable or allowed depreciation on gains from specified personal property. This tax provision plays a crucial role in understanding capital gains and losses. Section 1245 applies when you sell or dispose

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