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Author Question: Dinah owned land with a FMV of $130,000 (adjusted basis $120,000) which is investment property (a ... (Read 43 times)

captainjonesify

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on: Sep 13, 2020
Dinah owned land with a FMV of $130,000 (adjusted basis $120,000) which is investment property (a capital asset). Dinah owned a second tract of land, a 1231 asset, with a FMV of $46,000 (adjusted basis $50,000). Both tracts were acquired in 2001 and condemned by the state this year. The state paid an amount equal to FMV. If there are no other transactions involving capital assets or 1231 assets, Dinah must report on her current year return
◦ $6,000 net ordinary income.
◦ $6,000 net section 1231 gain treated as a net capital gain.
◦ a LTCG of $10,000 and a 1231 loss of $4,000.
◦ a LTCG of $10,000 and a nondeductible loss of $4,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by captainjonesify on Sep 13, 2020

milbourne11

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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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captainjonesify

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

atrochim

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Reply 3 on: Yesterday
Wow, this really help

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