Steven established a sole proprietorship in 2010. He sold 1231 assets at a loss in 2013

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Steven established a sole proprietorship in 2010. He sold § 1231 assets at a loss in 2013 and 2014. He had only sold § 1231 assets at a gain before 2013. In 2015, he could sell a § 1231 asset at a gain and would like to have the gain taxed as a long-term capital gain. What issue is Steven facing?
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South Western Federal Taxation 2016 Comprehensive

ISBN: 9781305395114

39th Edition

Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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