Section 1231 property is:
A)Property used in a trade or business that is subject to depreciation and is held for more than one year.
B)Property used in a trade or business that may or may not be subject to depreciation and held for less than one year.
C)Property used in a trade or business that may or may not be subject to depreciation and is held for more than one year.
D)All property used in a trade or business regardless of how long the asset is held.

Question

Quizplus · Accepted Answer

The Answer of Section 1231 property is:
A)Property used in a trade or business that is subject to depreciation and is held for more than one year.
B)Property used in a trade or business that may or may not be subject to depreciation and held for less than one year.
C)Property used in a trade or business that may or may not be subject to depreciation and is held for more than one year.
D)All property used in a trade or business regardless of how long the asset is held.

Section 1231 Property Is