Pidgeon, Inc. has the following gains and losses from Section 1231 property during 2014: No net Section 1231 losses have been deducted as ordinary losses in prior years. How much of the 2014 Section 1231 gains and losses are recognized as long-term capital gains?

Question

Pidgeon, Inc. has the following gains and losses from Section 1231 property during 2014:   No net Section 1231 losses have been deducted as ordinary losses in prior years. How much of the 2014 Section 1231 gains and losses are recognized as long-term capital gains?

Quizplus · Accepted Answer

The Answer of Pidgeon, Inc. has the following gains and losses from Section 1231 property during 2014:   No net Section 1231 losses have been deducted as ordinary losses in prior years. How much of the 2014 Section 1231 gains and losses are recognized as long-term capital gains?