Vertical, Inc

question 163

Multiple Choice

Vertical, Inc., has a 2018 net § 1231 gain of $67,000 and had a $22,000 net § 1231 loss in 2017. For 2018, 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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