Question
6. Larsen LLC (single member LLC) had the following items during 2020: Casualty loss on business building held five years ($ 5,000) Loss on sale
6. Larsen LLC (single member LLC) had the following items during 2020:
| Casualty loss on business building held five years | ($ 5,000) |
| Loss on sale of machinery held three years | ($4,000) |
| Realized gain on sale of equipment held four years; depreciation taken was $3,000 | $9,000 |
| Net short-term capital loss | ($1,500) |
What is Larsons result for 2020?
- What is Larsons result for 2020 if there was a Sec. 1231 loss in 2019 of ($1,200)?
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Audit And Business Performance
Authors: BELAMKADDAM HAMZA
1st Edition
6205444062, 978-6205444061
