a section $1231$ asset is: a$)$ an asset that, if sold for a loss, generates a capital loss. if sold for a gain, the gain is a capital gain b$)$ an asset that is held for sale in the ordinary course of a taxpayers trade or business and is held for more than $1$ year. c$)$an asset that is held for investment only and not used in trade or business and is held for more than $1$ year d$)$depreciable personal property or real property used in trade or business and is held for more than one year