NEAD TOO NO Flashcards
1
Q
Section 179
A
Temporary tax breaks that allows you deduct up to $500,000 for depreciation.
2
Q
Section 1231
A
- Real and depreciable property used in business
- intangible asset subject to amortization
- Held for greater than 1 year, otherwise taxed as ordinary income
3
Q
Section 1244
A
Small Business Stock - only up to $100,000
4
Q
Section 1245
A
Depreciation Recapture for Realty
5
Q
Section 1250
A
For Realty in service before 1987, Partial recapture
6
Q
Section 1221
A
Capital Gains & Losses
