Section 1245 property includes depreciable machinery and equipment and amortizable patents and leaseholds of machinery and equipment.

Name: Section 1245 property includes depreciable machinery and equipment and amortizable patents and leaseholds of machinery and equipment.
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Section 1245 property is a type of personal property that includes depreciable tangible personal property, such as machinery and equipment, as well as certain intangible assets like patents and leaseholds of machinery and equipment.

Section 1245 Property Includes Depreciable Machinery and Equipment and Amortizable