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Question: bourne guitars a corporation reported a 222000 net 1231 gain...

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Bourne Guitars, a corporation, reported a $222,000 net §1231 gain for year 6.

a. Assuming Bourne reported $69,750 of nonrecaptured net §1231 losses during years 1–5, what amount of Bourne’s net §1231 gain for year 6, if any, is treated as ordinary income?

Bourne's gain treated as ordinary income $   


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