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No, goodwill is not considered Section 1245 property. Section 1245 property primarily includes tangible personal property and certain types of intangible property, such as patents and copyrights, that are subject to depreciation. Goodwill, being an intangible asset that represents the value of a business's reputation and customer relationships, is classified as Section 197 property, which has different tax treatment. Therefore, it is not eligible for the recapture rules applicable to Section 1245 property.
What else can I help you with?
What does Section 1245 refer to in the IRS Tax scheme?
This is the section of the IRS code that deals with depreciable personal property, such as business equipment and vehicles.
How do you figure a Current Ratio I know the formula for current ratio is CA divided by CL when you are given Net Working capital 2110 Current Liabilities 5530 and Inventory 1245?
Net working capital formula = Current assets - current liabilities 2110 = current asset - 5530 current assets = 5530 + 2110 current assets = 7640 Current Ratio = 7640/5530 = 1.38
Is an automobile a section 1245 property?
no
What does Section 1245 refer to in the IRS Tax scheme?
This is the section of the IRS code that deals with depreciable personal property, such as business equipment and vehicles.
what 1245 off 10?
10% off of 1245 = 1120.5 = 1245 - (10% * 1245) = 1245 - (0.10 * 1245) = 1245 - 124.5 = 1120.5
What is 1245 divisible by?
1245 is divisible by 5.
What is 1245 plus 130?
1245 + 130 = 1,375
What is 1245 divided by ten?
1245/10 = 124.5
What is 2000 takeway 1245?
2000 - 1245 = 755
How many kilometers are in 1245 meters?
1000 metres = 1 kilometre so 1245 metres = 1245/1000 = 1.245 kilometres. So simple!1000 metres = 1 kilometre so 1245 metres = 1245/1000 = 1.245 kilometres. So simple!1000 metres = 1 kilometre so 1245 metres = 1245/1000 = 1.245 kilometres. So simple!1000 metres = 1 kilometre so 1245 metres = 1245/1000 = 1.245 kilometres. So simple!
What is 498 divided by 0.4?
1245
What are the factors of 1245?
The positive integer factors of 1245 are: 1, 3, 5, 15, 83, 249, 415, 1245
Why is 1245 is a pime?
1245 is not a prime - it is divisible by 3, 5, 15, 83, 249, 415 as well as 1 & 1245.
What is 1245 divided by 9?
138.3333
