Multiple Choice
During 2018, Thomas has a net Section 1231 gain of $57,000. In 2018, Thomas reported a net Section 1231 loss of $60,000. What is the character of the 2018 gain?
A) $60,000 long-term capital gain.
B) $60,000 ordinary gain.
C) $57,000 ordinary gain.
D) $57,000 long-term capital loss.
E) $57,000 long-term capital gain.
Correct Answer:
Verified
Correct Answer:
Verified
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