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12 March, 16:06

A business-use car is classified as what section property?

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  1. 12 March, 17:10
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    Section 1231 is a part of the US tax code, which covers certain types of properties used by businesses and how they can be treated for tax purposes. In accordance with article 1231, gains and losses on assets classified as 1231 properties are treated in a special way.

    Examples of property that qualifies under Section 1231 include machinery, buildings or land, leases, and livestock.
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