Net $1231 gain Ordinary assets 2 Depreciation recapture Net $1231 loss Pure $1231 property 00 $1245 property Unrecaptured $1250 gain $1250 property Capital assets $1231 assets Match each of the options above to the items below. Inventory, accounts receivable, and property that is used in a trade or business and held for one year or less A type of $1231 property that consists of depreciable real property The conversion of $1231 gain into ordinary Income on a sale: based on the amount of accumulated depreciation on the property Property used in a trade or business and held for more than one year A type of $1231 property that includes tangible personal property The only $1231 asset in this category Is land Property held for Investment or for personal use Treated as an ordinary loss $1231 gain that, if ultimately characterized as a long-term capital gain, Is taxed at a maximum rate of 25 percent. Net $1231 gain Ordinary assets 2 Depreciation recapture Net $1231 loss Pure $1231 property 00 $1245 property Unrecaptured $1250 gain $1250 property Capital assets $1231 assets Match each of the options above to the items below. Inventory, accounts receivable, and property that is used in a trade or business and held for one year or less A type of $1231 property that consists of depreciable real property The conversion of $1231 gain into ordinary Income on a sale: based on the amount of accumulated depreciation on the property Property used in a trade or business and held for more than one year A type of $1231 property that includes tangible personal property The only $1231 asset in this category Is land Property held for Investment or for personal use Treated as an ordinary loss $1231 gain that, if ultimately characterized as a long-term capital gain, Is taxed at a maximum rate of 25 percent