During the Current Tax Year, the Jeckel Company Has the Following

Multiple Choice

During the current tax year, the Jeckel Company has the following gains and losses from property transactions: $12,000 Section 1231 gain
$23,000 long-term capital gain
$21,000 Section 1231 loss
$4,000 Section 1231 gain
What is the amount and type of gain or loss reported by Jeckel for the year?

A) $21,000 Section 1231 loss; $39,000 capital gain
B) $16,000 Section 1231 gain; $21,000 Section 1231 loss; $23,000 capital gain
C) $18,000 net capital loss
D) $5,000 net Section 1231 loss; $23,000 capital gain