Which of the following would 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

Section 1231 gains and losses include gains and losses from the sale or exchange of business property, but not personal use property. Therefore, option A is not included in the netting of § 1231 gains and losses. However, options B and C are both relevant to the netting of § 1231 gains and losses. Therefore, the correct answer is option E, as it includes the two relevant options.

Which of the Following Would Be Included in the Netting