Section 1231 property generally does not include artistic compositions.

Name: Section 1231 property generally does not include artistic compositions.
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Section 1231 property typically includes depreciable property and real property (like buildings and equipment) used in a trade or business and held for more than one year. Artistic compositions are not included in this category as they are considered intellectual property, not depreciable business property.

Section 1231 Property Generally Does Not Include Artistic Compositions