Business property refers to any property used in a trade or business that is not classified as a capital asset. This could include inventory, property held for sale, trade receivables, depreciable property, real property, and intangible assets like copyrights or trademarks.
Depreciable real estate refers to property used in trade, business, or investment that is subject to depreciation deductions under Section 167 of the Internal Revenue Code. Land itself is generally not depreciable.
Depreciable real estate refers to property used in a trade or business, or held for investment purposes, which is subject to depreciation under Section 167 of the Internal Revenue Code. Typically, land itself is not depreciable; however, land with minerals may be subject to depletion.
A structure used primarily for the conduct of business, such as administration, clerical services, and consultation with clients and associates. Such buildings can be large or small, and may house one or more business concerns.
A Tax-Free Exchange, Delayed is a transaction where property is traded with the promise to provide a like-kind replacement in the near future, allowing deferral of tax on the gain under stringent conditions.
