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An individual taxpayer has $25,000 of Section 1231 gain from the disposition of non-residential real estate. Straight-line depreciation of $43,000 was deducted on the real

An individual taxpayer has $25,000 of Section 1231 gain from the disposition of non-residential real estate. Straight-line depreciation of $43,000 was deducted on the real estate. The taxpayer also has a Section 1231 loss of $56,000 from the sale of equipment.

What does Section 1231 cover?

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