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Looking at SIM #47 now, where a farmer has 105,000 in farming income and a $10,000 gain from the sale of 1231 property.
The answer key says to list the 105K farming income on the Schedule SE of Form 1040. That makes sense, but then how does a business owner report the 10K from sale of business property AND get the capital gains treatment on said gains?
AUD - 93
BEC - 87
FAR - 77
REG - 77------------
Corporate finance leaderBEC - 87 | 02/28
REG - 70 | 06/10, REMATCH | 08/30
AUD - XX | 09/10
FAR - XX | 12/10
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