Vertical, Inc

question 35

Multiple Choice

Vertical, Inc., has a 2017 net § 1231 gain of $67,000 and had a $22,000 net § 1231 loss in 2016. For 2017, Vertical's net § 1231 gain is treated as:

• A)$45,000 long-term capital gain and $22,000 ordinary loss.
• B)$67,000 ordinary gain.
• C)$45,000 long-term capital gain and $22,000 ordinary gain.
• D)$67,000 capital gain.
• E)None of the above.

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Definitions:

Clear Feedback

Straightforward, unambiguous responses or evaluations regarding performance, intended to encourage improvement or reinforce positive behaviors.

Active Listening

A communication technique that requires the listener to fully concentrate, understand, respond, and then remember what is being said.

Processing

The act of understanding and remembering what is being said as well as making an effort to empathize with the speaker’s feelings and thoughts and the situation at hand.

Remembering

The process of recalling or recognizing information, experiences, or people from one's past.