# Enrolled Agent Exam [Part 2] 48, Section 1231 — Sale of Business Property

Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-48-section-1231-sale-of-business-property
Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-48-section-1231-sale-of-business-property.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-06-14T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/47b6208a-0386-4269-bc80-ae05d89c2af6.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/finance-exam-prep-7658413/episodes/enrolled-agent-exam-part-2-48-section-1231-sale-of-business-property
Duration seconds: 236

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That net Section 1231 gains are treated as long-term capital gains, while net losses are treated as fully deductible ordinary losses. - How to correctly net gains and losses from the sale of multiple Section 1231 properties to determine the final tax character. - The function of the five-year lookback rule, which recharacterizes current Section 1231 gains as ordinary income to the extent of unrecaptured Section 1231 losses from the prior five years. - That property must be used in a trade or business and held for more than one year to qualify for Section 1231 treatment. - That depreciation recapture under Sections 1245 and 1250 must be calculated *before* determining the amount of a Section 1231 gain. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/finance-exam-prep-7658413/episodes/enrolled-agent-exam-part-2-48-section-1231-sale-of-business-property/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-48-section-1231-sale-of-business-property.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.