Examlex
Which organ's position causes the left lung to be shaped differently from the right lung?
Short-Term Capital Loss
A loss realized from the sale of a capital asset, such as stock, held for one year or less, which can be used to offset capital gains for tax purposes.
Ordinary Loss
A loss incurred in the regular course of business or through investments, which can be used to offset ordinary income for tax purposes.
Section 1231 Loss
A loss from the sale or exchange of property used in a trade or business that can be deductible for tax purposes.
Section 1231 Property
Refers to a type of property, both tangible and depreciable, used in a business and held for more than one year, which qualifies for tax treatment that combines aspects of capital gains and ordinary income tax rates.
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