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Sheena Maskell Sheena Maskell
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7 years ago
Sarah had a $30,000 loss on section 1244 stock, a $15,000 loss on sale of a personal use automobile and a $8,000 loss on stock that is not classified as 1244. Without regard to net capital loss limitations, Sarah should recognize
A) a ordinary loss of $38,000.
B) a capital loss of $53,000.
C) an ordinary loss of $30,000 and a capital loss of $8,000.
D) an ordinary loss of $30,000 and a capital loss of $23,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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Yoko900Yoko900
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7 years ago
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Sheena M. Author
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#2
7 years ago
I took a chance with your answer

It was right
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