Multiple Choice
In 2010,Niveen purchased land for $88,000 for use in her landscape business.She sold it in 2016 for $94,000.If Niveen has no other sales of business or trade property,how will this gain be taxed?
A) $6,000 long-term capital gain.
B) $6,000 short-term capital gain.
C) $6,000 ordinary income.
D) $6,000 Section 1231 gain.
Correct Answer:

Verified
Correct Answer:
Verified
Q68: To figure the gain or loss from
Q72: Lourdes,a sole proprietor,collected $8,650 on November 21,2016
Q73: A taxpayer purchased land in 2014 for
Q74: Diane gifted 100 shares of Runners Link
Q75: Francisco sells a parcel of land for
Q76: The gain or loss on land sold
Q78: In 2011,Terri purchased 260 shares of Flowers
Q81: Gilberto invested in a mid-size local company
Q82: Keeley purchased 1,000 shares in FAM Inc.,for
Q106: A computer used exclusively in a sole