Which of the following assets is 1231 property?
A)a machine used in the company's manufacturing operations
B)an investment in corporate stock
C)land held for investment
D)items held for resale by a retailer

Question

Quizplus · Accepted Answer

1231 property refers to assets used in a trade or business, including real estate, equipment, and other tangible personal property. Option A refers to a machine used in the company's manufacturing operations, which is a typical example of 1231 property. Options B, C, and D are not 1231 property since they are not used in a trade or business but rather are investments or held for resale.

Which of the Following Assets Is 1231 Property