33 39 TIME LEF 01:34:02 A corporation sold Section 1231 equipment in 2021 for a gain of $38,000. During the last five years, the corporation had a Section 1231 loss of $15,000 in 2018. What is the characteristic of the gain for 2021? $23,000 ordinary income and $15,000 Section 1231 gain $38,000 ordinary income $38,000 Section 1231 gain O $15,000 ordinary income and $23,000 Section 1231 gain NEXT > BOOKMARK Question navigation