Is a 1231 gain a capital gain?

This is difficult to answer without knowing all of your information, but Section 1231 gain is indeed long term Capital gain. Capital gain can be taxed as high as 20%, depending on your other taxable income. In addition it can trigger Net Investment Income tax, which you can tell by seeing if there's an entry on Line 62b on your 1040.

What is the difference between 1231 and 1245 property?

What is the difference between Section 1231 and 1245 property? As stated before, Section 1245 contains the depreciation recapture rules applying to the gains received from dispositions of certain depreciable property. While Section 1231 directs the tax treatment of gains and losses for real and depreciable property used in a trade or business and held over 12 months.

What is 1231 property gain?

The definition of a Section 1231 Gain is any recognized gain on the sale or exchange of propertyused in the trade or business. Generally, gains on Section 1231 assetsare taxed at capital gains rates(except for depreciationrecapture). The IRS Publication225 has a good example of figuring gains and loss: