| Posted: 06 Mar 2012 at 14:05 | IP Logged
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The section 1231 gain spoken of in the problem is not netted with the schedule C income because it is taxed differently and, although needs to be used in a trade or business, is not part of ordinary business profit. Capital gain rules apply here which are different than schedule C profit rules. Hope this helps. Capital gains are an adjustment FOR AGI.
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Topic: SE sim
Topic Closed)
