Paul Has a $45,000 Net Section 1231 Gain in the Current

question 66

Multiple Choice

Paul has a $45,000 net Section 1231 gain in the current tax year from his only property transaction.Last year he had a $12,000 net Section 1231 gain, but two years ago he had a $51,000 net Section 1231 loss.If he has no other property transactions in the current year, how will Paul treat his net Section 1231 gains this year?

• A)$45,000 long-term capital gain
• B)$45,000 ordinary income
• C)$39,000 ordinary income; $6,000 Section 1245 gain
• D)$39,000 ordinary income; $6,000 long-term capital gain

Know the importance and frequency of conducting ethics audits within organizations.

Understand various theories and concepts of cognitive and socioemotional development across different age groups.

Recognize the importance and impact of attachment styles in early childhood on later stages of development.

Identify the characteristic behavioral styles and how temperament affects an individual's response to their environment.

---

Definitions:

Anterior Vena Cava

A large vein that carries deoxygenated blood from the upper half of the body to the right atrium of the heart.

Cephalic Vein

A large vein running along the outer side of the arm from the hand to the shoulder, often used for intravenous injections or blood draw.

Intercostal Veins

Veins located between the ribs, which drain the chest wall and muscles of the intercostal spaces.

Azygous Vein

A vein running up the right side of the thoracic vertebral column, draining blood from the chest wall and upper lumbar region into the superior vena cava.