In 2013,Jim Had a $5,000 Net Section 1231 Gain

question 63

Multiple Choice

In 2013,Jim had a $5,000 net Section 1231 gain.In 2015,Jim reported a Section 1231 loss of $12,000.In 2016,Jim has a $15,000 net Section 1231 gain.He had no other sales of property in 2016.What is Jim's ordinary income from his 2016 property transactions?

• A)$- 0 -
• B)$7,000
• C)$3,000
• D)$12,000
• E)$15,000

---

Definitions:

Terrorist Tactics

Strategies or methods used by individuals or groups to achieve political, religious, or ideological goals through fear, coercion, or violence.

Osama Bin Laden

The founder of al-Qaeda, the terrorist organization responsible for the September 11 attacks on the United States and numerous other acts of terrorism.

American Forces

The military forces of the United States, including the Army, Navy, Marine Corps, Air Force, and Coast Guard.

National Security Policy

A set of principles and actions taken by a country to protect its national interests, sovereignty, and the well-being of its citizens from threats.