Sec.1245 applies to gains on the sale of depreciable personal property,but it generally does not apply to depreciable real property.

Name: Sec.1245 applies to gains on the sale of depreciable personal property,but it generally does not apply to depreciable real property.
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Sec. 1245 specifically applies to gains on the sale of depreciable personal property, but not to depreciable real property unless it is considered "recaptured" under certain circumstances.

Sec1245 Applies to Gains on the Sale of Depreciable Personal