The §1231 Look-Back Rule Recharacterizes §1231 Gains If §1231 Losses

question 49

True/False

The §1231 look-back rule recharacterizes §1231 gains if §1231 losses have created ordinary losses in the last 5 years.

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Definitions:

Function Prototype

A declaration of a function that specifies the function's name, return type, and parameters, used to inform the compiler about a function ahead of its definition.

Function Declarator

The syntax in programming that specifies the name, return type, and parameters of a function.

Void

A keyword indicating that a function does not return any value.

Pass By Reference

A method of passing arguments to a function where the function can modify the argument's actual value in the caller by having a reference to the original data rather than a copy.