Section 1221 assets are any asset used in a trade or business.

Name: Section 1221 assets are any asset used in a trade or business.
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Section 1221 assets refer specifically to capital assets, which are generally defined as property held by an individual or business outside of their usual course of business. This excludes inventory, certain property used in a trade or business, accounts receivable, and other specific assets that are not held for investment purposes.

Section 1221 Assets Are Any Asset Used in a Trade