In 2021, Andre had a Section 1231 gain of $12,000. In the prior years, Andre had the following Section 1231 transactions: Year Net Section 1231 Transaction 2020 $5,000 Section 1231 Loss 2019 $3,000 Section 1231 Loss 2018 No Section 1231 Transaction 2017 No Section 1231 Transaction 2016 No Section 1231 Transaction 2015 $7,000 Section 1231 Gain 2014 $4,000 Section 1231 Gain How will Andre's Section 1231 gain be taxed in 2021?

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Heres how Andres Section 1231 gain will be taxed in 2021 Step 1 Calculate net Section ... View the full answer