Section 1231 Property Includes Nonpersonal Use Property Where Casualty Gains

question 90

True/False

Section 1231 property includes nonpersonal use property where casualty gains exceed casualty losses for the taxable year.

---

Definitions:

Residential Care

A type of living arrangement where individuals receive accommodation and personal care services, typically for the elderly or disabled.

Tactile Hallucinations

Sensory perceptions of touch or movement on the body with no physical cause, often associated with certain mental health conditions.

Mnemonic Disturbance

A disruption in the ability to remember or recall information, often due to brain dysfunction or psychological stress.

Agnosia

A neurological disorder characterized by the inability to recognize and interpret sensory information, despite having functioning senses.