Question: Choose two statements that are true regarding Section 1 2 3 1 assets. Section 1 2 3 1 assets must be held for more than

Choose two statements that are true regarding Section 1231 assets.
Section 1231 assets must be held for more than 12 months.
Section 1231 assets are a subset of capital assets.
Section 1231 assets are limited to short-term holding periods.
Section 1231 assets must be used in trade or business.

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