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On May 1,2016,Kelalani Purchased Land for $88,000 for Use in Her

Question 72

Multiple Choice

On May 1,2016,Kelalani purchased land for $88,000 for use in her business.She sold it on May 1,2017,for $82,000.If there are no other sales of business or trade property,how is this loss treated for tax purposes on Kelalani's return?


A) $6,000 short-term capital loss.
B) $6,000 long-term capital loss.
C) $6,000 ordinary loss.
D) $6,000 Section 1231 loss.

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