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The sale of machinery for more than the original cost basis (before depreciation), used in a trade or business, and held for more than one
The sale of machinery for more than the original cost basis (before depreciation), used in a trade or business, and held for more than one year results in the following types of gain or loss?
Capital and Ordinary.
Ordinary only.
Capital and 1231.
1245 and 1231.
None of the choices are correct.
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