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If taxpayer have sec 1231 gain and sec 1231 loss in 2006 whether he should recognize sec 1231 gain in 2006 and sec 1231 loss in 2007 or vice versa?
Wiki User
∙ 14y ago
Section 1231 gains and losses must first be netted together, then if there's a gain, it's a capital gain, but, if there's a loss, you can take it against ordinary income. The best of both worlds, wouldn't you agree? Kevin in Phoenix, Az.
Wiki User
∙ 14y ago
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