Platt owns land that is operated as a parking lot. A shed was erected on the lot for the related transactions with customers. With regard to capital assets and Section 1231 assets, how should these assets be classified?
|
Land |
Shed |
|
|
a. |
Capital |
Capital |
|
b. |
Section 1231 |
Capital |
|
c. |
Capital |
Section 1231 |
|
d. |
Section 1231 |
Section 1231 |