Sec.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

Sec.1231 property must be real or depreciable property and used in trade or business, and must be held for more than one year to qualify for favorable tax treatment. However, it is not required to be held for sale to customers.

Sec1231 Property Will Generally Have All the Following Characteristics Except