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Proctor Inc. was incorporated in 2004 and adopted a calendar year. Here is a schedule of Proctor's net Section 1231 gains and (losses) reported on its tax returns through 2009. In 2010, Proctor recognized a $25,000 gain on the sale of business land. How is this gain characterized on Proctor's tax return?
Audiotapes
Magnetic tapes used for recording and replaying sound, including music and voice.
Forcibly Raped
A criminal act involving the non-consensual sexual intercourse achieved through physical force, threat, or intimidation.
Incapacitated
A state in which an individual or entity is unable to act or respond due to injury, illness, or other impairments.
Drugs
Substances used for medical purposes to diagnose, cure, treat, or prevent disease, or otherwise used to alter one's physiological or psychological state.
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