Examlex
What is the acceleration of gravity at the surface of Earth?
Long-term Capital Gain
A profit from the sale of an asset held for more than a year, typically taxed at a lower rate than regular income.
Section 1245
A section of the U.S. Internal Revenue Code that defines the tax treatment of the gain from the sale of depreciable property.
Recapture
A process in which previously deducted or credited amounts are added back to taxable income or tax liability under certain conditions.
Short-term Capital Gain
A profit from the sale of an asset held for one year or less, taxed as ordinary income.
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