Multiple Choice
A worthless security had a holding period of 6 months when it became worthless on December 10,2014.The investor who had owned the security had a basis of $20,000 for it.Which of the following statements is correct?
A) The investor has a long-term capital loss of $20,000.
B) The investor has a short-term capital loss of $20,000.
C) The investor has a nondeductible loss of $20,000.
D) The investor has a short-term capital gain of $20,000.
E) None of these.
Correct Answer:
Verified
Correct Answer:
Verified
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