Lucy, a noncorporate taxpayer, experienced the following Section 1231 gains and losses during the years 2011 through 2016. Her first disposition of a Sec. 1231 asset occurred in 2011. Assuming Lucy had no capital gains and losses during that time period, what is the tax treatment in each of the years listed?
$\begin{array}{lcc}
&\text {Section 1231 Gams}&\text {Section 1231 Losses}\
2011 & \$ 10,000 & \$ 8,000 \
2012 & \$ 18,000 & \$ 23,000 \
2013 & \$ 9,000 & \$ 13,000 \
2014 & \$ 22,000 & \$ 16,000 \
2015 & \$ 25,000 & \$ 17,000 \
2016 & \$ 11,000 & \$ 18,000
\end{array}$

Question

Lucy, a noncorporate taxpayer, experienced the following Section 1231 gains and losses during the years 2011 through 2016. Her first disposition of a Sec. 1231 asset occurred in 2011. Assuming Lucy had no capital gains and losses during that time period, what is the tax treatment in each of the years listed?
 $\begin{array}{lcc}
&\text {Section 1231 Gams}&\text {Section 1231 Losses}\
2011 & \$ 10,000 & \$ 8,000 \
2012 & \$ 18,000 & \$ 23,000 \
2013 & \$ 9,000 & \$ 13,000 \
2014 & \$ 22,000 & \$ 16,000 \
2015 & \$ 25,000 & \$ 17,000 \
2016 & \$ 11,000 & \$ 18,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Lucy, a noncorporate taxpayer, experienced the following Section 1231 gains and losses during the years 2011 through 2016. Her first disposition of a Sec. 1231 asset occurred in 2011. Assuming Lucy had no capital gains and losses during that time period, what is the tax treatment in each of the years listed?
 $\begin{array}{lcc}
&\text {Section 1231 Gams}&\text {Section 1231 Losses}\
2011 & \$ 10,000 & \$ 8,000 \
2012 & \$ 18,000 & \$ 23,000 \
2013 & \$ 9,000 & \$ 13,000 \
2014 & \$ 22,000 & \$ 16,000 \
2015 & \$ 25,000 & \$ 17,000 \
2016 & \$ 11,000 & \$ 18,000
\end{array}$

Lucy, a Noncorporate Taxpayer, Experienced the Following Section 1231 Gains