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    Exam 3: Tax Formula and Tax Determination;an Overview of Property Transactions
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    In 2014,Frank Sold His Personal Use Automobile for a Loss
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In 2014,Frank Sold His Personal Use Automobile for a Loss

Question 173

Question 173

True/False

In 2014,Frank sold his personal use automobile for a loss of $9,000.He also sold a personal coin collection for a gain of $10,000.As a result of these sales,$10,000 is subject to income tax.

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