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The current tax year is 2023. The following 1231 transactions occurred: 2016 Sold property for $17,000. Tax basis of $23,000. 2019 Sold property for $34,000.
The current tax year is 2023. The following 1231 transactions occurred: 2016 Sold property for $17,000. Tax basis of $23,000. 2019 Sold property for $34,000. Tax basis of $50,000. 2023 Sold property for $100,000. Tax basis of $70,000. How much of the 1231 gain is considered capital in the current year
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