If Realized Gain from Disposition of Business Equipment Exceeds Total

question 33

True/False

If realized gain from disposition of business equipment exceeds total depreciation or cost recovery,a portion of the gain will receive Sec.1231 treatment if the equipment's holding period is more than one year.

---

Definitions:

Wartime Borrowing

The process of governments taking on debt during times of war to finance military operations and support the economy.

Social Security

A government program that provides financial assistance to retirees, disabled individuals, and their dependents.

Cyclically Balanced

A fiscal policy strategy where government budgets are planned to balance over the business cycle, running surpluses in boom years and deficits during recessions.