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Title: Michael had a $4,000 loss on the sale of his car. He Post by: GoodMad_ on Nov 28, 2016 Michael had a $4,000 loss on the sale of his car. He
A) can deduct the entire $4,000 loss in the year of the sale. B) cannot deduct the capital loss on this personal use asset. C) can deduct $3,000 in the year of the sale and the remaining loss in a subsequent tax year. D) can only deduct up to $3,000 of the loss in the initial year of the sale. Title: Re: Michael had a $4,000 loss on the sale of his car. He Post by: bzapian on Dec 1, 2016 Content hidden
Title: Re: Michael had a $4,000 loss on the sale of his car. He Post by: GoodMad_ on Jan 12, 2017 Such a smart group of people this forum has
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