Which of the following is Section 1231 property?

A) Inventory.
B) Copyright owned by the author.
C) A building used in a trade or business,held for more than one year
D) Accounts receivable.

Section 1231 Property

Refers to a type of property, both tangible and depreciable, used in a business and held for more than one year, which qualifies for tax treatment that combines aspects of capital gains and ordinary income tax rates.

Trade or Business

Activity conducted for the purpose of earning income or profit, involving regular and continuous activities in a particular field.