q46

$2,500 QUESTION 46 Ben owns timber with an adjusted basis of $35,000. In 2016 Ben signed a timber contract where he would be paid $160,000 at a future date. On Jan 1st of the current year the timber is valued at $115,000. The timber is cut a month later when the FMV of the timber is $130,000. How much of this gain is treated as Section 1231 gain? $0 $45,000 $15,000 $95,000 $80,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers