Once § 1231 gains are netted against § 1231 losses, if the gains exceed the losses, the net gain is offset by the “lookback” nonrecaptured § 1231 losses. True False
Once § 1231 gains are netted against § 1231 losses, if the gains exceed the losses, the net gain is offset by the “lookback” nonrecaptured § 1231 losses. True False
Chapter3: Income Sources
Section: Chapter Questions
Problem 12DQ
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Question
Once § 1231 gains are netted against § 1231 losses, if the gains exceed the losses, the net gain is offset by the “lookback” nonrecaptured § 1231 losses.
- True
- False
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