In 2015, Mary recognized a $45,000 gain on the sale of Section 1231 property. Over the previous five-year period, Mary recognized the following net Section 1231 gains and (losses) : 2014 $(28,000)
2013 $16,000
2012 $(30,000)
Mary's 2015 gain is characterized as
A) $45,000 ordinary gain
B) $42,000 ordinary gain and $3,000 capital gain
C) $28,000 ordinary gain and $17,000 capital gain
D) $45,000 capital gain
Correct Answer:
Verified
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