Elizabeth Blessing is a financial writer and editor specializing in growth investing, high-yield stocks, small caps, and gold investing. Lea Uradu, J.D., is a Maryland state registered tax preparer, ...

I’m in the specialty tax business, and I get calls on a daily basis from CPAs and real estate owners who are concerned that the reallocation of tax basis to “personal property” as part of a cost ...

IRS Section 1245 determines how certain types of property are taxed upon sale. Specifically, it deals with recapturing depreciation on personal property and specific kinds of real estate. When ...