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Author Question: For livestock to be considered Section 1231 property, (Read 82 times)

rmenurse

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on: Sep 13, 2020

Question 1

For a business, Sec. 1231 property does not include
◦ timber, coal, or domestic iron ore.
◦ inventory purchased 24 months ago.
◦ an office building purchased five years ago.
◦ land used in the business that was purchased two years ago.

Question 2

For livestock to be considered Section 1231 property,
◦ the livestock must be held for draft, breeding or dairy purposes, but not for sport.
◦ cattle and horses must be held for at least 12 months from the date of acquisition.
◦ cattle and horses must be held for at least 24 months from the date of acquisition.
◦ livestock other than cattle and horses must be held for at least 24 months from the date of acquisition.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by rmenurse on Sep 13, 2020

krakiolit

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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rmenurse

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

rachel

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Reply 3 on: Yesterday
Excellent

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