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

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Definitions:

German Approach

A term that might refer to the rigorous and detailed methodology often associated with German practices in business, engineering, or other fields, but without a specific context it is hard to define precisely.

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The concept of self that evolves from personal experiences, values, and beliefs, distinguishing an individual from others.

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A state of collaboration between company management and its workers, often aiming to improve working conditions, productivity, and communication.

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The collective organization of workers formed to protect and increase their rights and interests through collective bargaining.