During the Current Year,Danika Recognizes a $30,000 Sec

question 76

Multiple Choice

During the current year,Danika recognizes a $30,000 Sec.1231 gain and a $22,000 Sec.1231 loss.Prior to this,Danika's only Sec.1231 item was a $15,000 loss two years ago.Danika must report a(n)

• A)$8,000 net LTCG.
• B)$8,000 ordinary income.
• C)$15,000 ordinary income.
• D)$8,000 ordinary income and $7,000 net LTCG.

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Definitions:

Male Chauvinists

Individuals, usually men, who believe in the superiority of men over women in various aspects of life.

Equal Status

The condition that occurs when companies hire employees who are frequent targets of discrimination into all levels within the company.

Ingredients

are the components or materials used in the preparation of foods, medicines, or any product requiring a mixture.

Discrimination

The unjust or prejudicial treatment of different categories of people, often based on race, age, sex, or disability.