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When is a net Sec. 1231 gain treated as ordinary income? A. Net Sec. 1231 gain is treated as ordinary income to the extent of
When is a net Sec. 1231 gain treated as ordinary income? A. Net Sec. 1231 gain is treated as ordinary income to the extent of any nonrecaptured net Sec. 1231 losses for the ten most recent preceding years. O B. Net Sec. 1231 gain is treated as ordinary income to the extent of any nonrecaptured net Sec. 1231 losses for the five most recent preceding years. O C. Net Sec. 1231 gain is treated as ordinary income to the extent of any nonrecaptured net Sec. 1231 losses for the seven most recent preceding years. D. Net Sec. 1231 gain is treated as ordinary income to the extent of any nonrecaptured net Sec. 1231 losses for the three most recent preceding years
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