In 2010,Jim Had a $5,000 Net Section 1231 Gain

question 78

Multiple Choice

In 2010,Jim had a $5,000 net Section 1231 gain.In 2012,Jim reported a Section 1231 loss of $12,000.In 2013,Jim has a $15,000 net Section 1231 gain.He had no other sales of property in 2013.What is Jim's ordinary income from his 2013 property transactions?

• A)$ - 0 -
• B)$ 7,000
• C)$ 3,000
• D)$12,000
• E)$15,000

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Definitions:

Love To Sell

A passion or deep enjoyment found in the act of selling, often characterized by a fervent desire to meet customer needs and achieve sales targets.

Intangible Products

Products that cannot be touched or physically measured, such as services, digital goods, and experiences.

Nonfinancial Rewards

Benefits provided to employees that do not involve monetary compensation, such as recognition, flexible working hours, and professional development opportunities.