Which of the following would not be included in the netting of § 1231 gains and losses?
A)Personal use property net casualty gain.
B)Section 1231 loss.
C)Section 1231 gain.
D)All of the above.
E)b.and c.

Question

Quizplus · Accepted Answer

Personal use property net casualty gain is not included in the netting of § 1231 gains and losses, as it is not considered a § 1231 asset. Only gains and losses from sales or exchanges of business property (such as land, buildings, and equipment) are included in the netting calculation.

Which of the Following Would Not Be Included in the Netting