All assets listed below have been held for more than one year.

Requirement

Which assets might be classified as Sec.$1231,$ Sec.$1245,$ or Sec. $1250$ property? An asset may be classified as more than one type of property.

Question content area bottom

Part $1$

Asset

Sec. $1231$

a$.$ Land on which a factory is located

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b$.$ Equipment used in the factory

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c$.$ Raw materials inventory

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d$.$ Patent purchased to allow use of a manufacturing process

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e$.$ Land held primaily for sale

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f$.$ Factory building acquired in $1986($the straight$-$line ACRS recovery method is used$)$

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