Multiple Choice
In 2014,Moana purchased land for $99,500 for use in her business.She sold it in 2017 for $115,900.What is the gain on the sale before any netting?
A) $16,400 Section 1231 gain.
B) $16,400 Section 1245 gain.
C) $16,400 Section 1250 gain.
D) $16,400 ordinary income.
Correct Answer:
Verified
Correct Answer:
Verified
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