Steven established a sole proprietorship in 2015. He sold 1231 assets at a loss in 2019
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Steven established a sole proprietorship in 2015. He sold § 1231 assets at a loss in 2019 and 2020. He had only sold § 1231 assets at a gain before 2019. In 2021, 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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The issue that Steven facing is what is known as the wash sale ...View the full answer
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Related Book For
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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