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GoodMad_ GoodMad_
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Posts: 3902
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2 years ago
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.
Textbook 

Personal Finance: An Integrated Planning Approach


Edition: 8th
Author:
Read 120 times
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bzapianbzapian
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2 years ago
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2 years ago
Such a smart group of people this forum has

thx
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