Question: Explain the purpose behind the 1231 look-back rule. Compare to the Best of Both Worlds. What does that mean? Tax for individuals

Explain the purpose behind the §1231 look-back rule. Compare to the "Best of Both Worlds". What does that mean?

Tax for individuals

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If youre trying to figure out how much money youve made or lost through the sale of business property youll want to look at Section 1231 This section has been dubbed the Best of Both Worlds since it c... View full answer

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