property used in the trade or business

(1)in applying section 1231(a), the term “property used in the trade or business” shall be treated as including only— (A)property used in carrying on an insurance business, of a character which is subject to the allowance for depreciation provided in section 167, held for more than 1 year, and real property used in carrying on an insurance business, held for more than 1 year, which is not described in section 1231(b)(1)(A), (B), or (C), and (B)property described in section 1231(b)(2), and

Source

26 USC § 818(b)(1)


Scoping language

None: Default is title Scope
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