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What income, if any, of the year 6 gain would be considered ordinary income

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Chase reports a $90,000 net ?1231 gain in year 6. Years 1-5 he reports a total of $62,000 of nonrecaptured ?1231 losses. What income, if any, of the year 6 gain would be considered ordinary income?

 

Paper#20845 | Written in 18-Jul-2015

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