§1231 assets include all assets used in a trade or business.
Section 1231 assets are used in a trade or business and held by taxpayers for more than one year.

Name: §1231 assets include all assets used in a trade or business. Section 1231 assets are used in a trade or business and held by taxpayers for more than one year.
Brand: Quizplus
Rating: 4.9 (29 reviews)

Question

Quizplus · Accepted Answer

Not all assets used in a trade or business qualify as §1231 assets; they must also be held for more than one year and meet specific criteria.

§1231 Assets Include All Assets Used in a Trade or Business