the gain, if any, be taxed?
17-31 Section 1231 Lookback. J has recognized the following § 1231 gains and losses in
the current year (2019) and since the inception of his business:
Year
Net § 1231
Gain (Loss)
2019
$50,000
2018
12,000
2017
(35,000)
2016
0
2015
65,000
2014
(13,000)
How will J treat the $50,000 gain for the current year?