section 1250 property
Defined in 3 places — 2 distinct definitions of the United States Code.
The terms “section 1245 property” and “section 1250 property” have the meanings given such terms by sections 1245(a)(3) and 1250(c), respectively.
Same definition in 2 sections
- 1994–present26 U.S.C. § 168Internal Revenue Code · Accelerated cost recovery system · under this section
- 1994–present26 U.S.C. § 291Internal Revenue Code · Special rules relating to corporate preference items · for purposes of this section
For purposes of this section, the term “section 1250 property” means any real property (other than section 1245 property, as defined in section 1245(a)(3)) which is or has been property of a character subject to the allowance for depreciation provided in section 167.
Source
- 1994–present26 U.S.C. § 1250Internal Revenue Code · Gain from dispositions of certain depreciable realty · for purposes of this section