1.Marry sells his fully depreciated building at a gain to an
unrelated party. The building is purchased before 1981. ls any of the gain
taxed as ordinary income?
2. Which of the following assets (assume all assets have a
holding period of more than one year ) do not qualify as Sec. 1231 property :
inventory, a pig held for breeding, land used as a parking lot for customers,
and marketable securities?
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