Section 1231 property will generally have all the following characteristics except
A)real or depreciable property.
B)used in trade or business.
C)held for sale to customers.
D)held for more than one year.

Question

Quizplus · Accepted Answer

Section 1231 property must have the characteristics of being real or depreciable property, used in trade or business, and held for more than one year. However, it cannot be held for sale to customers, as that would make it inventory rather than 1231 property.

Section 1231 Property Will Generally Have All the Following Characteristics