In the current year, Alan reported a $104,950 net §1231 gain and
a $4,000 net capital loss. Assuming Alan reported $54,000 of
nonrecaptured §1231 losses during the prior 5 years, what amount of
Alan's net §1231 gain for the current year, if any, is treated as
ordinary income?
Multiple Choice
$50,950.
$104,950.
$54,000.
None of the choices are correct.
$0.