Basic Federal Income Taxation: Property Transactions: Identification of Section 1231 Property

This lesson is best used after studying Federal Income Taxation: Property Transactions, in class. The lesson includes problem sets to work through, allowing you to apply the Code to a variety of situations involving identifying Internal Revenue Code section 1231 property.

Learning Outcomes

On completion of the lesson, the student will be able to:

1. Understand the holding period requirement for § 1231 property used in a trade or business.
2. Understand the types of business assets that are not considered § 1231 property used in a trade or business.
3. Understand the difference between investment or personal-use property and § 1231 property used in a trade or business.