*** The answer is not $30,000.

The current tax year is 2022 . The following 1231 transactions occurred: 2015 - Sold property for $17,000. Tax basis of $23,000. 2018 - Sold property for $34,000. Tax basis of $50,000. 2022 - Sold property for $100,000. Tax basis of $70,000. How much of the 1231 gain is considered capital in the current year? $16,000 $0 $30,000 $14,000 $8,000