Which of the following is Section 1231 property?
A)Accounts receivable.
B)A building used in a trade or business.
C)Inventory.
D)Copyright owned by the author.

Question

Quizplus · Accepted Answer

Section 1231 property is property that has been held for more than one year and is used in a trade or business, including real property, depreciable personal property, and livestock. A building used in a trade or business falls under this category. Accounts receivable and inventory are considered ordinary income property, and copyrights are considered intangible property.

Which of the Following Is Section 1231 Property