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During the current year an individual has a $40,000 section 1245 gain, a $35,000 section 1231 gain, a $33,000 section 1231 loss, a $15,000 long-term
During the current year an individual has a $40,000 section 1245 gain, a $35,000 section 1231 gain, a $33,000 section 1231 loss, a $15,000 long-term capital gain, and a $3,000 unrecaptured section 1231 loss from the prior year. The net long-term capital gain is:
a. $30,000
b. $40,000
c. $17,000
d. $15,000
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