Section 1223

Section 1223 (26 U.S.C. §1223)

The Internal Revenue Code section that defines the various holding periods for property, important in determining tax benefits.To find the law's text, see the instructions at Section (federal code).

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The draft NDAA for Fiscal Year 2016, an early and unratified version of the final legislation, was amended by the Congress to include a clause (Section 1223) that named the Peshmerga as one of a number of security forces collectively entitled to "not less than 25 percent" of the annual $715m of the US support.
Tax-exempt organizations that are not required to file Form 990, Return of Organization Exempt from Income Tax, because their gross receipts are less than $25,000, must begin to furnish an electronic annual notification to the IRS, effective for annual periods beginning after 2006; see PPA '06 Section 1223. The notification must include: