10. LO.2 Steven established a sole proprietorship in 2008. He sold 1231 assets at a loss...
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10. LO.2 Steven established a sole proprietorship in 2008. He sold § 1231 assets at a loss in 2011 and 2012. He had only sold § 1231 assets at a gain before 2011. In 2013, he could sell a § 1231 asset at a gain and would like to have the gain taxed as a long-term capital gain. What issue is Steven facing?
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Related Book For
South-Western Federal Taxation 2014 Corporations Partnerships Estates And Trusts
ISBN: 9781285424484
37th Edition
Authors: William H. Hoffman Jr., William A. Raabe, James E. Smith, David M. Maloney, James C. Young
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