In 2010,Jim Had a $5,000 Net Section 1231 Gain

question 78

Multiple Choice

In 2010,Jim had a $5,000 net Section 1231 gain.In 2012,Jim reported a Section 1231 loss of $12,000.In 2013,Jim has a $15,000 net Section 1231 gain.He had no other sales of property in 2013.What is Jim's ordinary income from his 2013 property transactions?

• A)$ - 0 -
• B)$ 7,000
• C)$ 3,000
• D)$12,000
• E)$15,000

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Square

A four-sided polygon with all sides of equal length and all angles equal to 90 degrees, often used in geometry and construction.

Lever

A simple machine consisting of a rigid bar that pivots around a fixed point, known as the fulcrum, used to amplify force.

Ratchet Wheels

Gears featuring teeth that engage with a pawl or similar device, allowing rotation in one direction while preventing it in the opposite, used in various mechanical devices.