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A taxpayer purchased a plot of land for use in the taxpayers business for $20,000...

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Question

Accounting

  1. A taxpayer purchased a plot of land for use in the taxpayers business for $20,000 on January 1 of the current year. The taxpayer sold the land for $22,000 on June 1 of the current year. What is the taxpayers Section 1231 gain as a result of the sale?
  2. $0
  3. $2,000
  4. $20,000
  5. $22,000

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