section 1254 property
Defined in 1 place of the United States Code.
The term “section 1254 property” means any property (within the meaning of section 614) if—
(A) any expenditures described in paragraph (1)(A) are properly chargeable to such property, or
(B) the adjusted basis of such property includes adjustments for deductions for depletion under section 611.
Source
- 1994–present26 U.S.C. § 1254Internal Revenue Code · Gain from disposition of interest in oil, gas, geothermal, or other mineral properties · in this section