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  3. Study Set
    Federal Taxation
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    Exam 13: Part 1--Property Transactions: Determination of Gain or Loss,basis Considerations,and Nontaxable Exchanges
  5. Question
    Kimmy Sells Her Personal Use Automobile for $19,000
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Kimmy Sells Her Personal Use Automobile for $19,000

Question 179

Question 179

Multiple Choice

Kimmy sells her personal use automobile for $19,000.She purchased the car three years ago for $35,000.What is Kimmy's recognized gain or loss?


A) $0.
B) $19,000.
C) ($16,000) .
D) ($35,000) .
E) None of the above.

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