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yes....it is an asset and can be used in a trade/business if improved ie parking lot, or farming.
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∙ 11y agoThis answer is:
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Earn +20 ptsQ: Is land used in a trade or business a Section 1231 asset?
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Related questions
Are section 1231 assets held for more than a year?
Yes, Section 1231 is assets used in a trade or business that are held more than 1 year.
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