Question: Milton Incorporated recognized a $ 1 , 3 0 0 net Section 1 2 3 1 loss in 2 0 2 3 . If Milton

Milton Incorporated recognized a $1,300 net Section 1231 loss in 2023. If Milton recognizes a $5,000 net Section 1231 gain in 2024, it must characterize $1,300 as ordinary income.
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