In 2013,Thomas,who has a marginal tax rate of 15%,sells land that is Sec.1231 property at a gain of $4,000.If he has no other 1231 transactions or capital asset transactions and has no nonrecaptured 1231 gain,the $4,000 will not be taxed.

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The gain from the sale of Sec.1231 property is not taxed if the taxpayer has no other 1231 transactions or capital asset transactions and has no nonrecaptured 1231 gain.

In 2013,Thomas,who Has a Marginal Tax Rate of 15%,sells Land