Section 1231 assets include
A)Inventory.
B)Stocks and bonds.
C)Personal residence.
D)Business-use realty.
E)Personal automobile.

Question

Quizplus · Accepted Answer

Section 1231 assets refer to property used in a trade or business, including real estate and depreciable personal property. Business-use realty falls under this category, while personal residence and personal automobile are not considered Section 1231 assets. Inventory, stocks, and bonds are also not included in this category.

Section 1231 Assets Include