whereas a Section 1231 gain that would otherwise offset a Section 1231 loss or be taxed at ordinary rates is not. A taxpayer will not know until the end of the year whether the taxpayer has a net Section 1231 gain or loss, so the proposed regulations...
Part III is used to report gains and losses from the sale, exchange, or involuntary conversion of Section 1231 property. Section 1231 property refers to depreciable business property, such as real estate and certain tangible assets. Gains from Section 1231 property are treated as long-term capital...