Which of the following is Section 1231 property?
A)Inventory.
B)Copyright owned by the author.
C)A building used in a trade or business,held for more than one year
D)Accounts receivable.

Question

Quizplus · Accepted Answer

Section 1231 property includes depreciable and real property, such as a building used in a trade or business, held for more than one year. Inventory and accounts receivable are not Section 1231 property. Copyright owned by the author is considered an intangible asset, and therefore, it is not Section 1231 property.

Which of the Following Is Section 1231 Property