[leglock]

If a C-corpoaration sells its corporate headquarters at a gain, is that considered capital property or 1250 property or some other?

Also, is the gain treated as capital with capital rate for a c-corp being its ordinary rate of 35%?

[Anonymous]

Well it's definitely 1250 property, but I think it would be considered a 1231 gain. It's part of the business activity but not how they would normally generate income or an expected revenue source.

[leglock]

there is no special rate for a corp correct? it would be taxed at 35%?

[Author]

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