### Question
What does section 1250 property mean?


### Answer
**Section 1250 property** has the following meaning in *26 U.S.C. § 1250*:

> any real property (other than section 1245 property, as defined in section 1245(a)(3)) which is or has been property of a character subject to the allowance for depreciation provided in section 167

#### Citation:
  - *26 U.S.C. § 1250*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter P-Capital Gains and Losses > PART IV-SPECIAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES**

