Establishment of 1231 assets
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Why did Congress establish favorable treatment for 1231 assets?
I. to encourage the mobility of capital
II. to allow a larger deduction for losses
III. to help business owners replace assets which had declined in value
A. I only
B. II only
C. III only
D. I and II only
E. I, II, and III
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This solution explains why Congress established favorable treatment for 1231 assets. References for further expansion are also provided.
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D. I and II only
1231 favorable treatment was created to encourage capital mobility because it allowed capital gains treatment of assets. It also increased deductions or losses that could be claimed by ...
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