Examlex
INTERACT is a publicly available program that focuses on improving the identification, evaluation, and management of acute changes in the condition of nursing home residents and the use of effective care transition strategies.
Section 1231
A tax provision that allows for the preferential tax treatment of gains and losses on the sale or exchange of business property and assets held for more than one year.
Depreciation
An accounting method used to allocate the cost of a tangible or physical asset over its useful life, reflecting wear and tear, deterioration, or obsolescence.
FMV
The Fair Market Value represents the price at which property would be sold in an open market scenario.
Unrecaptured 1250 Gain
A type of gain on the sale of depreciable real property that’s taxed at a different rate than other capital gains.
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