The Sale of Machinery for More Than the Original Cost

question 69

Multiple Choice

The sale of machinery for more than the original cost basis (before depreciation) , used in a trade or business, and held for more than one year results in the following types of gain or loss?

• A) Capital and Ordinary.
• B) Ordinary only.
• C) Capital and §1231.
• D) §1245 and §1231.
• E) None of the choices are correct.

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Definitions:

Human Resource Department

The human resource department is responsible for managing employee-related processes in an organization, including recruitment, training, and benefits administration.

Employee Training

The process of enhancing the skills, capabilities and knowledge of employees for doing a particular job.

Person Analysis

The process of assessing an individual's capabilities, skills, and developmental needs to optimize job performance.

Interpersonal Communication Skills

The abilities used to effectively exchange information, ideas, and feelings with others through verbal, non-verbal, written, and digital channels.