Fillmore's Net Section 1231 Gains and Losses Reported for the Past

question 133

Multiple Choice

Fillmore's net Section 1231 gains and losses reported for the past five years is presented below. ​
In 2016,Fillmore has a $15,000 net Section 1231 gain.What amounts and character of income will Fillmore ultimately report in 2016 as a result of this net Section 1231 gain?

• A)$6,000 LTCG; $9,000 ordinary income
• B)$15,000 ordinary income
• C)$15,000 Section 1231 gain
• D)$9,000 LTCG; $6,000 ordinary income
• E)None of the above.

---

Definitions:

Physical Activity Guidelines

Official recommendations intended to inform individuals on the types and amounts of physical activity beneficial for health.

Muscle-Strengthening Activities

Exercises or physical activities designed to improve the strength, power, and endurance of muscles.

Faint

A brief loss of consciousness typically resulting from a decrease in blood flow to the brain.

Transfer Device

Equipment designed to aid in moving patients from one location or position to another, enhancing mobility and safety.