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Author Question: Blair, whose tax rate is 28%, sells one tract of land at a gain of $29,000 and another tract of land ... (Read 45 times)

mp14

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on: Sep 13, 2020
Blair, whose tax rate is 28%, sells one tract of land at a gain of $29,000 and another tract of land at a gain of $11,000. Both tracts of land are Sec. 1231 property. She has never had any other Sec. 1231 transactions. How are the gains taxed?
◦ ordinary income of $40,000 taxed at 28%
◦ a net capital gain of $40,000 which is not taxed
◦ a net capital gain of $40,000 taxed at 15%
◦ ordinary income of $40,000 taxed at 25%
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by mp14 on Sep 13, 2020

stano32

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mp14

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

Liamb2179

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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