Gains and Losses under Section 1231
Learn about the special treatment of certain types of capital assets under Section 1231 of the Internal Revenue Code.
In this lesson, we'll survey the special tax treatment of sales, exchanges, and compulsory or involuntary conversions of specified assets under Section 1231 of the Internal Revenue Code, or IRC. To fully understand the concepts discussed here, we recommend watching the following lessons first:
· Calculating Gain or Loss from Dealings in Property,
· Deductions for Business and Investment Expenses,