Suffocation7232 Suffocation7232

30-12-2022
Business

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What amount, if any, of the year 7 $113,000 net §1231 gain is treated as ordinary income?
Answer to this question is 57000 which is a sum of Gain/Loss from Year 1 to Year 6.
I thought I should only add Gain/Loss from Year 2 to Year 6 because of 1231 5 year look back rule.
Can somebody explain why we take Gain/Loss for the past 6 years?

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