In 2011, Sondra Corporation recognizes $18,000 in Section 1231 gains and 10,000 in Section 1231 losses. In

Question:

In 2011, Sondra recognizes $18,000 in Section 1231 gains and 10,000 in Section 1231 losses. In 2006, Sondra reported $12,000 in Section 1231 losses and no Section 1231 gains. No other Section 1231 gains or losses were recognized by Sondra during the 2006–2010 period. What is the tax treatment of Sondra’s 2011 Section 1231 gains and losses?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...