Pidgeon,Inc

question 71

Multiple Choice

Pidgeon,Inc.has the following gains and losses from Section 1231 property during 2017:
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No net Section 1231 losses have been deducted as ordinary losses in prior years.How much of the 2017 Section 1231 gains and losses are recognized as long-term capital gains?

• A)$- 0 -
• B)$1,000
• C)$3,000
• D)$4,000
• E)$6,000

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Definitions:

Government Employees

Individuals who work within various branches of government (federal, state, local) and whose salaries are paid by public funds.

Private Wage

Private wage is the compensation or salary paid to employees by private sector firms, as opposed to wages paid by government entities.

Nonunion Labor

Workers who are not members of a labor union and do not receive the wages and benefits negotiated by unions.

Foreign Firms

Companies that conduct business or operations outside their country of origin.