non-recaptured net section 1231 losses
Defined in 1 place of the United States Code.
For purposes of this subsection, the term “non-recaptured net section 1231 losses” means the excess of—
(A) the aggregate amount of the net section 1231 losses for the 5 most recent preceding taxable years beginning after December 31, 1981, over
(B) the portion of such losses taken into account under paragraph (1) for such preceding taxable years.
Source
- 1994–201426 U.S.C. § 1231Internal Revenue Code · Property used in the trade or business and involuntary conversions · for purposes of this section
For purposes of this subsection, the term “non-recaptured net section 1231 losses” means the excess of—
(A) the aggregate amount of the net section 1231 losses for the 5 most recent preceding taxable years, over
(B) the portion of such losses taken into account under paragraph (1) for such preceding taxable years.
Source
- 2014–present26 U.S.C. § 1231Internal Revenue Code · Property used in the trade or business and involuntary conversions · for purposes of this section