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4 pts Assume the above two sales are the only resulting gain/(loss) in 2021 and Melissa reported the following net $1231 gains and losses since
4 pts Assume the above two sales are the only resulting gain/(loss) in 2021 and Melissa reported the following net $1231 gains and losses since she began business. After applying the $1231 look- back rule using the below historical information, the resulting gain/losses on the tax return are ordinary and capital. Year 2015 Net 1231 Gains/(Losses) (50,000) 2016 0 2017 0 2018 40,000 2019 5,000 2020 0
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