Steven established a sole proprietorship in 2013. He sold 1231 assets at a loss in 2017

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Steven established a sole proprietorship in 2013. He sold § 1231 assets at a loss in 2017 and 2018. He had only sold § 1231 assets at a gain before 2017. In 2019, 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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Related Book For  answer-question

South-Western Federal Taxation 2020 Comprehensive

ISBN: 9780357109144

43rd Edition

Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

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