§1231 assets include all assets used in a trade or business.

Name: §1231 assets include all assets used in a trade or business.
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Quizplus · Accepted Answer

Section 1231 assets include depreciable property and real property (like buildings and equipment) used in a trade or business and held for more than one year. However, inventory, accounts receivable, and certain other assets are not considered §1231 assets even though they may be used in a trade or business.

§1231 Assets Include All Assets Used in a Trade or Business