What SECTION 1250 means: When real property is sold, gain must be recaptured as ordinary income to the extent of the depreciation claimed in excess of straight line. Section 1250 is the section of the Internal Revenue Code that requires this treatment. Also see "Recapture of Depreciation.".
- Definition Severance Damages:
- Dictionary Payment received because part of a property is condemned and the value of the retained part is thereby decreased section 1250.
- Definition SUB Pay:
- Dictionary Supplemental unemployment benefits. These benefits are generally received from a company-financed fund and are fully taxable as wages section 1250.
- Definition Social Security Wages:
- Dictionary Total wages paid to an employee that are subject to this tax. This amount does not include tips. Wages are also subject to Medicare tax section 1250.
- Definition S Corporations:
- Dictionary business corporation that generally pays no tax. Instead, shareholders of an S corporation report their share of the corporation's income, gain, losses, and credits on their individual returns section 1250.
How works Section 1250 meaning in Tah definition S .