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Business, 05.05.2020 18:18 Nerdyprincesd8689

Eugene Forest sold the following assets: stock acquired 5 years ago (cost $10,000) for $15,000, business equipment held 3 years (cost $28,000; adjusted basis $ 22,000) for $30,000, inventory held 2 years (cost $11,000) for $14,000, and personal car, held 2 years (cost $8,000) for $12,000. What is the amount of Forest's Sec. 1231 gain or loss? a) S 2.000 b)$ 8,000 c)$20,000 d) $29,000 e) None of the above

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Eugene Forest sold the following assets: stock acquired 5 years ago (cost $10,000) for $15,000, busi...
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