Which of the following is not a §1245 asset if held for more than one year?
A. Machinery.
B. Automobile.
C. Building purchased in 1985 for which accelerated depreciation was elected.
D. Land.
E. None of these.
Answer: D. Land.
A. Machinery.
B. Automobile.
C. Building purchased in 1985 for which accelerated depreciation was elected.
D. Land.
E. None of these.
Answer: D. Land.