The sale of computer equipment used in a trade or business for 9 months results in the following type of gain or loss?
A)Capital.
B)Ordinary.
C)§1231.
D)§1245.
E)None of thesE.Assets used in a trade or business and held for one year or less are ordinary assets.

Question

Quizplus · Accepted Answer

Assets used in a trade or business and held for one year or less are considered ordinary assets, resulting in ordinary gain or loss upon sale.

The Sale of Computer Equipment Used in a Trade or Business