Multiple Choice
For a business,Sec.1231 property does not include
A) timber,coal,or domestic iron ore.
B) inventory purchased 24 months ago.
C) an office building purchased five years ago.
D) land used in the business that was purchased two years ago.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q76: During the current year,Danika recognizes a $30,000
Q77: The purpose of Sec.1245 is to eliminate
Q78: This year Pranav had the gains
Q79: The amount recaptured as ordinary income under
Q80: If Sec.1231 applies to the sale or
Q82: Sec.1245 ordinary income recapture can apply to
Q83: Dinah owned land with a FMV of
Q84: When a donee disposes of appreciated gift
Q85: The sale of inventory results in ordinary
Q86: Daniel recognizes $35,000 of Sec.1231 gains