Multiple Choice
Ashburn reported a $105,000 net §1231 gain in Year 6. Assuming Ashburn reported $60,000 of nonrecaptured §1231 losses during Years 1 to 5, what amount of Ashburn's net §1231 gain for Year 6, if any, is treated as ordinary income?
A) $0.
B) $45,000.
C) $60,000.
D) $105,000.
E) None of the choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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