If Section 1231 gains exceed Section 1231 losses, the excess of the gains over the losses is added to long-term capital gains, assuming there are no prior years' net Section 1231 losses to recapture.

Question

Quizplus · Accepted Answer

A net gain on the second netting (Section 1231 gain and loss netting) is considered to be long-term capital gain, assuming there are no prior years' net Section 1231 losses to recapture

If Section 1231 Gains Exceed Section 1231 Losses, the Excess