(me lollowing imic mation applies to thie questions displayed Bourne Guitars, a corporation, reported a $232,000 net §1231 gain for year 6. a. Assuming Bourne reported $58,500 of nonrecaptured net $1231 losses during years 1–5, what amount of Bourne's net $1231 gain for year 6, if any, is treated as ordinary income? Bourne's gain treated as ordinary income

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A: Solution :- Given, Bourne Guitars, a corporation, reported a $157,000 net §1231 gain for year 6.

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