Vertigo, Inc

question 53

Multiple Choice

Vertigo, Inc., has a 2012 net § 1231 loss of $64,000 and had a $32,000 net § 1231 gain in 2011.For 2012, Vertigo's net § 1231 loss is treated as:

• A)Ordinary loss.
• B)Ordinary gain.
• C)Capital loss.
• D)Capital gain.
• E)None of the above.