For Livestock to Be Considered Section 1231 Property

Multiple Choice

For livestock to be considered Section 1231 property,

A) the livestock must be held for draft,breeding or dairy purposes,but not for sport.
B) cattle and horses must be held for at least 12 months from the date of acquisition.
C) cattle and horses must be held for at least 24 months from the date of acquisition.
D) livestock other than cattle and horses must be held for at least 24 months from the date of acquisition.