ch 13 prentice halls federal taxation 2016 individuals

ques 39 Nonrecaptured Net Sec. 1231 Losses. Consider the following summary of Sec. 1231 gains and losses recognized by Janet during the period 20102015. Janet had no nonrecaptured Sec. 1231 losses at the beginning of 2010. If Janet has no capital gains and losses during the six-year period, determine her net capital gain for each year.

Sec. 1231 Gains Sec. 1231 Losses

2010 $9,000 $ 7,000

2011 20,000 24,000

2012 12,000 19,000

2013 9,000 4,000

2014 25,000 13,200

2015 10,000 17,000