Examlex

Solved

Delour Inc

question 9

Multiple Choice

Delour Inc. was incorporated in 2004 and adopted a calendar year. Here is a schedule of Delour's net Section 1231 gains and (losses) reported on its tax returns through 2009. Delour Inc. was incorporated in 2004 and adopted a calendar year. Here is a schedule of Delour's net Section 1231 gains and (losses)  reported on its tax returns through 2009.   In 2010, Delour recognized a $50,000 gain on the sale of business land. How is this gain characterized on Delour's tax return? A) $50,000 Section 1231 gain B) $12,000 ordinary gain and $38,000 Section 1231 gain C) $16,900 ordinary gain and $33,100 Section 1231 gain D) $50,000 ordinary gain In 2010, Delour recognized a $50,000 gain on the sale of business land. How is this gain characterized on Delour's tax return?


Definitions:

Traditional Chinese Medicine

A holistic medical system originating from China, utilizing practices such as acupuncture, herbal medicine, and Qi Gong to treat illness.

Ayurveda

The Indian system of medicine that views illness as a state of imbalance among the body’s systems.

Emotional Abuse

A form of abuse that involves the non-physical behaviors such as threats, insults, and isolation, which can damage a person's self-esteem and emotional well-being.

Guided Imagery

A relaxation technique using self-chosen positive images to achieve specific health-related goals (i.e., stress reduction, pain control).

Related Questions