Your cpa firm is preparing the tax return of a new client

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Your CPA firm is preparing the tax return of a new client who says he has had numerous transactions involving the sale of depreciable business property in prior years. The client lost all his tax records in a recent hurricane. His transactions for the current year results in a net section 1231 gain. Your supervisor instructs you to complete this return without further information. Should you do so?

Reference no: EM13615331

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