Which of the following is not a §1245 asset if held for more than one year?
A) Machinery.
B) Automobile.
C) Business cell phone.
D) Land.
E) None of the choices are correct.

Name: Which of the following is not a §1245 asset if held for more than one year? A) Machinery. B) Automobile. C) Business cell phone. D) Land. E) None of the choices are correct.
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Question

Quizplus · Accepted Answer

Land is not subject to cost recovery and is a §1231 asset, but not a §1245 asset.

Which of the Following Is Not a §1245 Asset If