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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