I need help and explanations for this particular problem (#35)

Please provide answers and explanations in Word or Excel as handwritten responses are often hard to read. Thank you so much.

HC CIICIILS CULTU" yai la ICUIII, WIICII SUUWS anctYILI KAN. IA LAND the client to request copies of the returns for the preceding five years to determine if there are any $ 1231 lookback losses. The client says that the returns are "still buried in the moving mess somewhere" and cannot be found. The client also says that he does not remember any $1231 net losses on the prior year returns. What should Harold do? Justify your answer. 35. LO.6 Geranium, Inc., has the following net $ 1231 results for each of the years shown. What is the nature of the net gain in 2018 and 2019? Tax Year Net S 1231 Loss Net $1231 Gain $18,000 33,000 42,000 2014 2015 2016 2017 2018 2019 $41,000 30,000 41,000