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  2. Topic
    Business
  3. Study Set
    Federal Taxation
  4. Exam
    Exam 13: Part 1--Property Transactions: Determination of Gain or Loss,basis Considerations,and Nontaxable Exchanges
  5. Question
    A Loss from the Sale of a Personal Use Asset
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A Loss from the Sale of a Personal Use Asset

Question 40

Question 40

True/False

A loss from the sale of a personal use asset that would be disallowed can be recognized if the taxpayer converts the asset to business use prior to its sale.

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