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Section 1250 property
Section 1250 property is property that is depreciable or recoverable but is not subject to the recapture rule under Code Sec. 1245. This includes all intangible real property (such as leases of land, buildings and their structural components, including elevators and escalators placed in service after 1986) and all other tangible real property except property which is used as an integral part of manufacturing, production or extraction or used in furnishing transportation, communications, electrical energy, gas, water or sewage disposal services, or research or storage facilites used in connection with these activities.