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wolverine [178]
3 years ago
8

Which statements about Section 1231 assets are true? Pick all that apply!!

Business
1 answer:
dem82 [27]3 years ago
4 0

Answer:

The answer is below

Explanation:

Given that Section 1231 assets are a term that is used to describe the real or depreciable trading property acquired for more than a year. For example, landed property, buildings, etc.

Hence, in this case, the correct answer or statement to the question are:

1. If Section 1231 assets are sold and the taxpayer has a realized loss, the loss is a fully deductible ordinary loss

2. If Section 1231 assets held long-term are sold for a realized gain, the taxpayer has a potential long term capital gain that may be taxed at favorable capital gains rates but this result often does not occur

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A baker knows that her customers will pay $5 for a loaf of bread, but if the marginal
schepotkina [342]

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3 years ago
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Answer:

Please see explanation below.

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