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Define a “Section 1231 Asset”? Why would the disposition of a Section 1231 be considered the...

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Accounting

Define a “Section 1231 Asset”? Why would the disposition of aSection 1231 be considered the “best of both worlds” for ataxpayer?

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A Section 1231 Asset refers to any depreciable asset used in a trade or business and held for over one year It includes buildings machinery land timber and other natural resources unharvested crops cattle    See Answer
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