q47

QUESTION 47 The following 1231 transactions occurred: o 2011 - Sold property for $120,000. Tax basis of $150,000. o 2013 - Sold property for $7,000. Tax basis of $12,000. o 2016 - Sold property for $13,000. Tax basis of $8,000. o 2017 - Sold property for $58,000. Tax basis of $65,000. o 2020 - Sold property for $60,000. Tax basis of $40,000. How much of the 1231 gain is considered capital? $13,000 $8,000 $0 $18,000 $20,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers