Section 1231 Lookback Losses May Convert Some or All of §

question 17

True/False

Section 1231 lookback losses may convert some or all of § 1245 gain into ordinary income.

---

Definitions:

Sulfonium Salts

Ionic compounds containing a positive sulfonium ion (R3S+), where R represents an organic group.

Alkylating Agents

Chemicals that add alkyl groups to DNA or proteins, often used as medications in chemotherapy or as chemical weapons.

Sulfur Analogues

Compounds similar in structure to another compound but with sulfur atoms replacing oxygen or nitrogen atoms, often used in medicinal chemistry to adjust the properties of drugs.

Ethers

A class of organic compounds characterized by an oxygen atom connected to two alkyl or aryl groups, used as solvents and in the synthesis of other chemicals.