Which of the following assets is not a Section 1231 asset?
A)Business equipment held for four years
B)Office furniture held for eight months
C)Land used in a business and held for 16 years
D)All of the above are Section 1231 assets

Question

Quizplus · Accepted Answer

Section 1231 assets are typically depreciable property and real estate used in a trade or business and held for more than one year. Office furniture held for only eight months does not meet the holding period requirement.

Which of the Following Assets Is Not a Section 1231