Page 9-15 of TTB says that the Business Income Limit of Section 179 includes "...ordinary income from deprection recapture under IRC Sections 1245 and 1250."
Is this correct?
IRS instructions mention Section 1231 gains, but not those identified as 1245 or 1250.
My software prints a schedule showing the calculation of the Business Income Limit and it includes 1231, but not 1245 or 1250.
Is this correct?
IRS instructions mention Section 1231 gains, but not those identified as 1245 or 1250.
My software prints a schedule showing the calculation of the Business Income Limit and it includes 1231, but not 1245 or 1250.