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Ashburn reported a $104,950 net 1231 gain in year 6. Assuming Ashburn reported $54,000 of nonrecaptured 1231 losses during years 1-5, what amount of Ashburn's
Ashburn reported a $104,950 net 1231 gain in year 6. Assuming Ashburn reported $54,000 of nonrecaptured 1231 losses during years 1-5, what amount of Ashburn's net 1231 gain for year 6, if any, is treated as ordinary income?
Multiple Choice
a. $0.
b. $50,950.
c. $54,000.
d. $104,950.
e. None of the choices are correct.
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