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Author Question: The following gains and losses pertain to Jimmy's business assets that qualify as Sec. 1231 ... (Read 84 times)

jman1234

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on: Sep 13, 2020
The following gains and losses pertain to Jimmy's business assets that qualify as Sec. 1231 property. Jimmy does not have any nonrecaptured net Sec. 1231 losses from previous years, and the portion of gain recaptured as ordinary income due to the depreciation recapture provisions has been eliminated.

Gain due to insurance reimbursement for hurricane damage $24,000
Loss due to condemnation $21,000
Gain due to the sale of Sec. 1231 property $18,000

Describe the specific tax treatment of each of these transactions.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by jman1234 on Sep 13, 2020

duy1981999

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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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jman1234

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Reply 2 on: Sep 13, 2020
:D TYSM

momolu

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

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