An individual has a 30000 sect 1245 gain a 85000 sect 1231, Ask an Expert

Accounting

An individual has a $30,000 § 1245 gain, a $85,000 § 1231 gain, a $55,000 § 1231 loss, a $30,000 § 1231 lookback loss, and a $80,000 long-term capital gain. The net long-term capital gain is:

a. $165,000.

b. $135,000.

c. $110,000.

d. $80,000.

e. None of the above.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9439129

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