During the current year, Danika recognizes a $30,000 Sec. 1231 gain and a $22,000 Sec. 1231 loss. Prior to this, Danika's only Sec. 1231 item was a $15,000 loss two years ago. Danika must report a(n)
A) $8,000 ordinary income.
B) $8,000 ordinary income and $7,000 net LTCG.
C) $8,000 net LTCG.
D) $15,000 ordinary income.
Correct Answer:
Verified
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