Which of the Following Is True Regarding the §1231 Look-Back

question 129

Multiple Choice

Which of the following is true regarding the §1231 look-back rule?

• A)It only applies when a §1231 loss occurs.
• B)It only applies when a §1231 gain occurs.
• C)It only applies when a §1231 gain occurs and there is a nonrecaptured §1231 loss in the prior five years.
• D)It only applies when a §1231 gain occurs and there is a nonrecaptured §1231 gain in the prior five years.
• E)None of the choices are correct.

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Definitions:

Boiling Point

The temperature at which a substance transitions from the liquid phase to the gas phase under atmospheric pressure.

Cis-

A prefix that indicates substituents are located on the same side of a double bond or ring structure.

Trans-hex-3-ene

A geometric isomer of hex-3-ene with the two substituents opposite to each other across the double bond, affecting its chemical properties and reactivity.

Major Organic Product

The primary product of an organic reaction, usually the one in greater yield when multiple products are possible.