Different classes of property

Section 1245 property. This type of property includes tangible personal property, such as furniture and equipment, that is subject to depreciation, or intangible personal property, such as a patent or license, that is subject to amortization.

Section 1250 property - depreciable real property, including leaseholds if they are subject to depreciation. 

The most common examples of §1250 property are buildings and ..... deck, shingles, vapor barrier, skylights, trusses, girders, and gutters. ... of the cost of construction of the building and depreciated over the life of the building.

Section 1252 property, which is farmland held less than 10 years, on which soil, water, or land-clearing expenses were deducted

Section 1254 property, including intangible drilling and development costs, exploration costs, and costs for developing mining operations, 

Section 1255 property, which is cost-sharing payment property described in section 126 of the Internal Revenue Code