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Assume that all of the following property is used in a trade or business and has been held in excess of one year. Which property will not qualify as Section 1231 property upon its disposition by sale or exchange?

a. Property includible in inventory

b. Business property condemned for public use

c. Property held for production of rent and royalties

d. Depreciable property used in a trade or business.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M938728

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