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Morgan's Water World (MWW), an LLC, opened several years ago. MWW has reported the following net $1231 gains and losses since it began business. Net
Morgan's Water World (MWW), an LLC, opened several years ago. MWW has reported the following net \$1231 gains and losses since it began business. Net 1231 gains shown are before the look-back rule. What amount, if any, of the current year (year 7)$113,000 net $1231 gain is treated as ordinary income
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