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  3. in 2021, agnes recognized a $45,000 gain on the sa

In 2021, Agnes recognized a $45,000 gain on the sale of Section 1231 property. Over...

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Accounting

In 2021, Agnes recognized a $45,000 gain on the sale of Section 1231 property. Over the previous 5 year period, Agnes recognized the following net Section 1231 gains and (losses):

2017 ($30,000)

2018 $16,000

2019 ($28,000)

Agnes 2021 gain is characterized as:

a.

$45,000 ordinary gain
b.

$42,000 ordinary gain and $3,000 capital gain
c.

$28,000 ordinary gain and $17,000 capital gain
d.

$45,000 capital gain

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