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  3. jg incorporated recognized $690,000 ordinary incom

JG Incorporated recognized $690,000 ordinary income, $48,000 net Section 1231 gain, and $77,000 net capital...

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Accounting

JG Incorporated recognized $690,000 ordinary income, $48,000 net Section 1231 gain, and $77,000 net capital loss this year. JG's taxable income is
$690,000.
True or False
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