McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

تمرين 25

Lincoln has used a piece of land in her business for the past five years.The land qualifies as §1231 property.It is unclear whether Lincoln will have to recognize a gain or loss when she eventually sells the asset.She asks her accountant how the gain or loss would be characterized if she decides to sell.Her accountant said that selling §1231 assets gives sellers "the best of both worlds. Explain what her accountant means by "the best of both worlds.