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At the beginning of 2021 Gold Corporation has a $115,000 capital loss carryforward from 2020. During 2021, the corporation sells land, held for four
At the beginning of 2021 Gold Corporation has a $115,000 capital loss carryforward from 2020. During 2021, the corporation sells land, held for four years, and realizes an $87,000 gain. Gold hes no unrecaptured net Sec. 1231 losses, and it made no other sales daing the current year Read the rogunement Requirement Determine the amount of cepite loss carryforward that Gold can use in 2021 the land is a. Sec. 1231 property b. Not a capital asset or Ser. 1231 property. (Enter a "0" if no capital loss carrytonward can be used.) Print Done operty
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