Noelle Owns an Automobile Which She Uses for Personal Use

Multiple Choice

Noelle owns an automobile which she uses for personal use.Her adjusted basis is $40,000 (i.e. ,the original cost) .The car is worth $24,000.Which of the following statements is correct?

A) If Noelle sells the car for $24,000,her realized loss of $16,000 is not recognized.
B) If Noelle exchanges the car for another car worth $24,000,her realized loss of $16,000 is not recognized.
C) If the car is stolen and it is uninsured,Noelle may be able to recognize part of her realized loss of $24,000.
D) Only a.and b.are correct.
E) a. ,b. ,and c.are correct.