If the Taxpayer's Aggregate Section 1231 Gains for the Year

question 114

True/False

If the taxpayer's aggregate Section 1231 gains for the year exceed aggregate Section 1231 losses for the year,all such gains and losses are considered to be ordinary.

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Definitions:

Coccyx

The small tailbone at the lower end of the vertebral column, comprising three to five fused vertebrae.

Lumbar

Referring to the lower part of the spine or the lower back region.

Thoracic

Pertaining to the chest region or the thorax, which houses the heart and lungs among other organs.

Sacrum

A large, triangular bone at the base of the spine, forming the upper part of the pelvic structure.