Which of the Following Expenditures Are Not Deductible Because They

Multiple Choice

Which of the following expenditures are not deductible because they are personal in nature?
I.Legal costs to acquire a personal residence.
II.Losses resulting from the sale of personal residences.
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A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.