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In 2010, Niveen purchased land for $88,000 for use in her landscape business. She sold it in 2016 for $94,000. If Niveen has no other
In 2010, Niveen purchased land for $88,000 for use in her landscape business. She sold it in 2016 for $94,000. If Niveen has no other sales of business or trade property, how will this gain be taxed?
$6,000 long-term capital gain.
$6,000 Section 1231 gain.
$6,000 ordinary income.
$6,000 short-term capital gain.
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