Which of the Following Trade or Business Assets Are Section

question 63

Multiple Choice

Which of the following trade or business assets are Section 1245 properties?
I.Racehorses.
II.Livestock held for breeding purposes
III.Manufacturing equipment.
IV.Residential rental property placed in service in 2008.
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• A)Only statement I is correct.
• B)Statements II and IV are correct.
• C)Statements I, II, and III are correct.
• D)Statements I and IV are correct.
• E)Statements I, II, III, and IV are correct.